Snap shot at 10.57 am of 1 min chart.
The downsloping PF from pivot 1 is the major PF defining the downrtrend which is the bias right now.
Morning it has hit the red UMLH, reversed and hit the Median line at pivot 4 and pivot 5.Drawn a PF from pivot 3.Price is moving parallel to the green LMLH and if it tests the red UMLH at the confluence of green and red ML/UMLH and reverses,then there is a setup to short at these levels.
Snapshot at 11.27 am
Price zoomed above the red UMLH.
Snapshot at 12.30 pm
Intraday short on breakdown from magenta channel .
Snapshot at 1.04 pm
A new red Downsloping PF was drawn when the price reached a little higher than Pivot 2 and started falling.It broke out of the channel triggering a short setup.Ideal short entry at test / retest of the UMLH.
Snap shot at 3.07 pm
Price pulled back till the UMLH and the breakdown from the pullback trendline , below minor pivots was a perfect short Entry.Targets at Median line and below Swing pivot was reached.
Snap shot at 3.30 pm
