SHORTING E/J WHEN COUNTER TREND LINE BREAKS AND OSCILATORS ALONG WITH MA’s CROSS DOWN.
EJ is in a clear downtrend. I have placed a descending trendling (blue) line, the longer one to the outside. With orange I have labelled the clear High, Lower Low, Lower H, and L Low. The first yellow zone is my predicted resistance. There is another level of a yellow resistance zone just above, but personally I don't think it'll be heading that high since the stoch is overbought and curling down.
Stepping down to the 1H time frame. I have placed a counter trend line (red). MACD is above the middle line. Waiting for market MA's to cross down along with the MACD, stoch to also be positioned correctly and for the counter trend line to break and when that happens, I will be selling this to Weekly S1. Price is also currently in the sell zone area (between M3 and WPP).