This is a longer term rectangle with 6 candles that touched or came very close to touching the top line which is resistance. Some would swing trade inside the rectangle.
Price is bound between the 2 lines of the rectangle until it is not (o:
Possible W Pattern forming/No recommendation.
Price has bumped in to the .786 of the first leg down of the W pattern today. However, price only pulled up on the 2nd leg to the .236 of that 1st leg down. This would, in an orderly world, rule out a Cypher but this world has not been orderly as of late. )o: