Here's not much on the chart.
But what you see is evident.
The pitchforks median line is respected by price many times. And this time it's the same.
But there's a reason why this time price could flush down to the L-MLH. Indexes are weaker and weaker.
The first profit target for me is either the L-MLH, or the A/R (yellow) line. The Action/Reaction line is projected from above's swing range.
So, there we have another one to the short side.
I have more short charts than longs.
However, I always try to keep my overall portfolio balanced.
How?
There are always industries and sectors which perform to the long side, even when markets tank. It's simple but it takes effort.
But what you see is evident.
The pitchforks median line is respected by price many times. And this time it's the same.
But there's a reason why this time price could flush down to the L-MLH. Indexes are weaker and weaker.
The first profit target for me is either the L-MLH, or the A/R (yellow) line. The Action/Reaction line is projected from above's swing range.
So, there we have another one to the short side.
I have more short charts than longs.
However, I always try to keep my overall portfolio balanced.
How?
There are always industries and sectors which perform to the long side, even when markets tank. It's simple but it takes effort.