I am currently erring towards 60% chance of / 40% chance we break to the down side of this pattern; as both scenarios are equally as valid. Therefore I will be moving stop losses for longs to be much tighter at 9605. I will also hedge with some shorts from 9850-9900 levels with a stop loss around 10065.
A break to the down side target is low 8000's. A break to the upside target is initially 11,100; with a view that we are likely to form a around 13,500; and it looks like we will have our decision within 48 hours or so. For low risk traders, if we break to the down side; wait for the retest before going short.
Just for the record - as unpopular an opinion as it is... I am overall based on what the higher time frame charts are telling us. I would love to reach a ; however if this doesn't occur then I will be happy to short from current levels. I believe the bottom will be reached by mid-June next year and will be somewhere around 1850 and 3500. I will of course be happy to change my mind when the charts tell me otherwise!