What we see here is a red pitchfork, catching price at the center and the upper extreme.
After the drop, we see the sharp run-up.
Price got rejected exactly at the confluence point by the U-MLH (Upper-Medianline-Parallel).
Tomorrow is friday and - this is a weekly chart. If pirce is closing down that much, it screams "Trouble Ahead" for the Stock Market.
Target?
The Centerline for the first portion of the position and then the L-MLH for the second portion.
After the drop, we see the sharp run-up.
Price got rejected exactly at the confluence point by the U-MLH (Upper-Medianline-Parallel).
Tomorrow is friday and - this is a weekly chart. If pirce is closing down that much, it screams "Trouble Ahead" for the Stock Market.
Target?
The Centerline for the first portion of the position and then the L-MLH for the second portion.