After tomorrow, the last uptrend time will have expired, implying it'll be probable to see a retracement or reversal of this rally.
Considering the bigger picture and the levels on chart, it'd be natural to expect a retracement in this zone, and the stop loss on chart offers an attractive reward to risk ratio (stops above 4630 if going short).
You could enter tomorrow on close to be safe, or enter now, that's up to you.
We have RgMov signals, while has hit overbought and crossed below +100 again, after breaking a daily low yesterday.
Potential targets for the short would be a retest of the key level at 4209 or a even new quarterly lows.
This would definitely shake out many longs, so it'd be worth monitoring the progress to flip long.
Good luck if taking this trade.
Let's see if we go towards my targets now.
how do you calculate the upside target value? do you wait for a high value node on the volume profile, and that is your measurement?
range expansion and ATR are falling, as reflected in the reduced upmoves measurements.
cci shows bearish divergence
This isn't bullish, but, we still need signs of weakness to enter short, ideally.
I won't go into too much detail here, a bit lenghty to explain, and you can refer to Tim West's publications for basic info on the technique.
More advanced stuff, I'll keep it for private students.