Based on the bias, we should get a trip down to the ( Dotted white line ). As long as the Upper MLH is not broken convincingly the downward target should hold. The trip to this target will ultimately respect the Warning Lines, especially the intersecting points where we have the highest probabilities for CIT . You will notice the last move was respecting the Warning Line, broke through and pulled back into the intersecting point for an excellent shorting opportunity to where? The next line it meets of course. I have placed purple and green dots at the intersecting points to illustrate what happens if prices reach them.
Everyone would love this market to follow the purple dots, it does happen, however it is more likely to follow( Crawl ) the lines until it decides to drop to the next line ( Sometimes it drops 2 lines in one move ) the Dots create a Grid of intersecting " Warning Lines " letting me be aware that if price meets them ( from above a buy TP to close a short or initiate couter-trend long ) or ( a break of the line then a pullback into the intersecting point to Sell or a straight sell at the point ) it has a higher probability to reverse direction temporarily thus creating trading opportunities. If you notice the last dropped just past the purple Dot however pulled up nicely on the line and is now following ( Crawling ) it. Also notice the last two drops where preceded by this "Crawling The Line" Phenomenon. The last one Turning on the intersecting point from below. The ultimate path of price on the way to the ML is "crystal ball" stuff, ( Could go 1 green dot across then 2 green dots down etc. it does not matter, what matters is what the market does before,at and after these points, We can use this tool to take advantage of good areas to trade.