1) we have a completed pattern at the top of the chart. Judging by the necktie height, the movement should be running out of steam and getting ready for a reversal.
2) The falling action seems to have formed a which is breaking out right as it hits .
3) The price range of the mouth would place end of the breakout movement right around .
4) As long as holds this creates a much larger pattern that would bring the price way back to pre- May levels
Will be going long for the time being, taking profit at head shoulder level, will then short way back down to 1.3