Panic selling can have maximum one small green candle. But actually I don't like to see any green candle during the panic selling and here we had 2 green candles.
So the situation is the next:
We dropped down to the 200 with a steep drop. Timewise we could bottom our daily cycle here.
But the beginner cycle trader will be tricked out here as it's not a simple daily cycle low it's going to be an intermediate cycle low. So my original target down to the 200 still in play.
Today we finished the and heading down with a key reversal. Couldn't regain the 100 .
At the intermediate cycle low the 14 needs to get oversold and should be around -0.11.
The panic selling will be starting when we break below the 200 / and the last low at 2.651. ( Most probably tomorrow or Wednesday. ) We should see a big on the break down but sellers will be drying up in 4-5 days. So will be decreasing in the panic selling.
This is going to last for 5-6 days. And now I'm starting to think that it's going to break marginally below the 200 . We need the perma bears and bear market analysts to come out of their caves and calling the sub 2$ NatGAs price again.
Today I reenter with full position again with a stop above today's high. (2.87$)
So this is the 1st day of panic selling.
We have just broken the previous daily cycle low.
So we are in empty spac now. The 200 SMA is pulling down the price like a magnet.
3-4 more days and we are done. But by that time all the longs who bought the breakout at 3.3 will be stopped out.