There is a clear divergence between the and .
In regards to the price, a is forming. This indicates that supply is becoming more anxious at this zone.
Identified a daily , and a good looking entry spot with a good reward/risk ratio. Ratio is about 4.3:1.
Jack Swagger (1996) mentioned some benefits to the investor for using charts.
Set up entry and target.
provides concise price history
provides a good sense of market
reflect market behavior that is subject to certain repetitive patterns.