PINS short trigger
First: Do not short blindly. We must first wait for a trigger in order to short.
Our short trigger is a "close" below $34.63 on the 4 hour.
Once the 4 hour closes below, it indicates a lower low, in which I expect momentum to shift downwards to our first target (top green box).
When we hit target, look for bullish divergences on smaller timeframes. IMO this will indicate a reversal. If prices trades below the top green box, then I will expect price to trade down to bottom green box. Then look on lower timeframes for bullish divergences.
Our short trigger is a "close" below $34.63 on the 4 hour.
Once the 4 hour closes below, it indicates a lower low, in which I expect momentum to shift downwards to our first target (top green box).
When we hit target, look for bullish divergences on smaller timeframes. IMO this will indicate a reversal. If prices trades below the top green box, then I will expect price to trade down to bottom green box. Then look on lower timeframes for bullish divergences.
Penafian
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