W Downtrend. Weekly Supply formed overhead. Lots of room to run to Weekly Demand.
D Downtrend. Price hanging out in the tested Daily Demand area (which was a reaction to a Daily level to the left). Don't expect level to hold.
240/480 You can see a little SZ which I didn't catch, that would have presented a nice sell opportunity. Next opportunity is above and is the focus of this set-up.