I have reason to believe that if price continues to rally from here, in what is a downtrend judging from the daily chart, it will be overbought in a Supply Zone (lightly brown shaded backdrop) of the weekly (W) chart, and if it retests the hourly (1h) supply zone (grey shaded backdrop zone) then it will drop. How far? I'm guessing substantial since the supply is coming from both the weekly and the hourly. It's possible to end up with a 1:4 risk/reward if the target is reached well before a possible demand zone on the hourly.
nice chart, can you tell me the name of the indicator you are using , the one showing demand and supply zone?
QSInvestments
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@autorav3, Thank you for compliment. I didn't use an indicator outside of the RSI and ATR you see. I didn't even use those. Everything you see I drew in with drawing tools.