The orange Fork projects the pull-back potential, which is the Center-Line.
There are 3 short levels I see:
1. The primary is way up in the primary Sellers Zone.
Although this would be the most profitable one, it has a
caveat: Price would by then have broken the Trend Barrier (Dotted slanting Trendline).
2. The secondary Short lies the Secondary Short level, right where the GAP happend. Within this level is also a tiny bunching, where price was not able to overcome.
As for the Oscillators, the MACD and Mansfield are pointing to a Down-Trend. Only the RSI seems to be oversold and is indicating a potential pullback, which is in essence the reason to look for a short. It's supported by the Buyers Zone, where price was picked up by the Bulls.
Definitely a Chart that has it's place in my watch list.
Happy day Tr8dingN3rds §8-)
There are 3 short levels I see:
1. The primary is way up in the primary Sellers Zone.
Although this would be the most profitable one, it has a
caveat: Price would by then have broken the Trend Barrier (Dotted slanting Trendline).
2. The secondary Short lies the Secondary Short level, right where the GAP happend. Within this level is also a tiny bunching, where price was not able to overcome.
As for the Oscillators, the MACD and Mansfield are pointing to a Down-Trend. Only the RSI seems to be oversold and is indicating a potential pullback, which is in essence the reason to look for a short. It's supported by the Buyers Zone, where price was picked up by the Bulls.
Definitely a Chart that has it's place in my watch list.
Happy day Tr8dingN3rds §8-)