This is a long term idea
Mostly to be aware of the real chance of a current bearish potential
Several intricate patterns has build up
If after declines PA fail to close above the red resistance lines on the daily
This scenario would be getting more likely
Head and shoulder in formation
Daily RSI is overbought
Volume peaks at top of 5
Nevertheless MACD peak at (iii) and 3 superior to the divergence at 5
Alternatively the label 5 of III could be 1 of advance wave V, with short target/long entry approximately at my current label b of C
Even less likely : III could be the B of a running flat, with short target/long entry at my current label a of A
Once PA touches 3200, my next short entry would be around 3400 with a stop at 3450
Mostly to be aware of the real chance of a current bearish potential
Several intricate patterns has build up
If after declines PA fail to close above the red resistance lines on the daily
This scenario would be getting more likely
Head and shoulder in formation
Daily RSI is overbought
Volume peaks at top of 5
Nevertheless MACD peak at (iii) and 3 superior to the divergence at 5
Alternatively the label 5 of III could be 1 of advance wave V, with short target/long entry approximately at my current label b of C
Even less likely : III could be the B of a running flat, with short target/long entry at my current label a of A
Once PA touches 3200, my next short entry would be around 3400 with a stop at 3450