A potential reversal may happen if the neckline/50 EMA/trend line (orange) is broken. The neckline is in an odd spot though, at the bottom of a Monthly Resistance area (pink zone) as well as headed toward a pretty respected Daily Resistance (white line), as it has 6 major rejections since May. I'm rather new and still learning to trade, so if you've got any tips or common knowledge you'd like to share, I'd love some incite!
Order cancelled:
The final shoulder has clearly failed to form. As partially expected, it bounced right off the down trend line (orange) but is currently fighting with the a weekly support area. (purple zone) False reversal?