1 - Yesterday we spoke of downtrends in intraday chart being in SYNC with ST.
2 - OS needs to be achieve in order to see PA, but PA already signalling a downside acceleration.
3 - MACD was already showing weakness on the Daily chart..
Of course though the EW makes it more complicated than it is, but when all above are in sync all things come out simple.
Today was a waiting game, and sure enough once the signal crossed OS, prices were off to the races. Now the chart in view is the 60min chart, therefore we should allow accelerations to the downside to last a few hours to days or until the signal exits the OS. Simple enough.
Honestly though, if we took out the MACD analysis, it would be very simple since we are only using one indicator. Most don't like boring, and maybe the casino is a better game...
MT: DOWN
ST: DOWN
PA: DOWN
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