This is also based on my belief that the tested on October 15th will be broken and PA might be drawn to the lower . We also made a lower low and possibly a lower high (not confirmed until we move below the lower low) so downtrend may continue. It is also in line with my longer-term feeling.
3 possible trades on chart, SL above possible resistance and last highs. Targets are:
- TP1 above higher- and lower cross
- TP2 above where a possible move would end (blue lines)
- TP3 at the lower (not fixed)
I will trade this TEST for sure, I'm already in actually...
If you want to base a trade on this then keep in mind I'm not at all an expert on this and am just playing around with it... The bigger Pitchfork's left ref. point was chosen in confluence with a trendline/channel that can be drawn between the last highs and the upper 1.0 line (other possibility is shifting the left ref. point to the right where the low was tested which gives another angle!!).
If anyone knows more about this technique then please let me know if I did it right or not...!!