Timeframe: 30M
Main Scenario: The rate failed to resume the temporary rebound and to make a valid breakout above the median line (ml) of the minor ascending pitchfork, so now it is somehow expected to drop again. A valid breakdown from the minor ascending pitchfork's body will signal a potential drop.
Alternative Scenario: A further drop could be invalidated by a false breakdown below the lower median line (lml), or if the rate will fail to reach the lower median line (lml). It could increase if the rate will stay within the ascending pitchfork's body.
Entry/Stop Loss/ Take Profit: You can go short after a valid breakdown from ascending pitchfork's body, from 193.91. The Stop Loss could be at the 202.94 and the Take Profit at 173.42 level.
Duration: 1-2 days
Consolidation/Ratification level: You can drag the Stop Loss above the 199.30 high if the rate will close below the 193.20 level.
Warning Level: A false breakdown below the lower median line will invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2.27
Main Scenario: The rate failed to resume the temporary rebound and to make a valid breakout above the median line (ml) of the minor ascending pitchfork, so now it is somehow expected to drop again. A valid breakdown from the minor ascending pitchfork's body will signal a potential drop.
Alternative Scenario: A further drop could be invalidated by a false breakdown below the lower median line (lml), or if the rate will fail to reach the lower median line (lml). It could increase if the rate will stay within the ascending pitchfork's body.
Entry/Stop Loss/ Take Profit: You can go short after a valid breakdown from ascending pitchfork's body, from 193.91. The Stop Loss could be at the 202.94 and the Take Profit at 173.42 level.
Duration: 1-2 days
Consolidation/Ratification level: You can drag the Stop Loss above the 199.30 high if the rate will close below the 193.20 level.
Warning Level: A false breakdown below the lower median line will invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2.27