1) Daily downtrend is undergoing retracement.
2) After 3-4 pushes, momentum slows and price coils at Fib retracement, which also happens to be monthly High Volume Node and can see pocket on daily chart.
3) 240m and below hit low-adx zone during this 'balancing'.
4) If you want to read into MP shapes, Monthly 'P' profile indicates just short covering.
get ready....
5) 7/13/08 sneaky lunchtime move. 11:30am 5m chart breaks to downside after clearing some stops above.
6) 15m gets momo after 240m breakdown zone!
7) Is the 5/15 setup good for retest only?? NOT IN THIS CASE
8)...it's good for daily timeframe move with r/r around 100!!
any future value??...sure...watch to see if daily bear flag sets up some follow through ;)
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