Fibonacci bounce and bottom of longterm trendchannel.
Bottom of trendchannel. Correlating indications all over the place.
Please observe this cycleanalysis. It's all pointing out that this market is about too take off.
This is the reason why I'm so bullish on Natural Gas. Textbook ending diagonal formation, just inverted. So strong momentum it has much difference compared to previous rallys. These formations always tends to collapse and that would be bullish in case.
I don't know if I'm digging myself into a deeper hole or not in this trade. Did some refilling at todays brutal dip. Might be a new trend arising. Let's hope so. Aslong as it stays within this trendchannel I will remain bullish.
Just a caution we could see something like this happening. I exited my trade earlier today secured nice profit. It's not the right time to be greedy.
I bought the dip earlier in premarket then sold the release. I'm currently out of position. This is an area I would like to short but I'm not comfortable doing that before battery day.
Might be risky but It looks like we're in bottom of trendchannel. The trend is still upwards even though bearish fundamentals.
I would very much like to see 45 this week. I think we'll have a stop halfway at fib 50. Getting abit overbought though. Let's see if momentum holds.