Natural Gas Falling Wedge Completion. Diamond Bottom?
Bring back technical analysis . Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me something. I don't care if we're on the same side of the trade, or on opposite sides, but at least justify your position?
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: ABCDE falling wedge. Diamond Bottom should have 9 times that it touches the inside of it. Thus far I count 8 with direction pointing towards touching bottom one last time. Diamond Bottom's are bloody challenging to spot so give me some credit for trying. Retracement should go towards the beginning of the falling wedge.
Conclusion:
Short term - Bear (9th touch)
Medium term - Bull (Retracement)
Long term - Neutral
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: ABCDE falling wedge. Diamond Bottom should have 9 times that it touches the inside of it. Thus far I count 8 with direction pointing towards touching bottom one last time. Diamond Bottom's are bloody challenging to spot so give me some credit for trying. Retracement should go towards the beginning of the falling wedge.
Conclusion:
Short term - Bear (9th touch)
Medium term - Bull (Retracement)
Long term - Neutral