Anticipating a price failure trade with an EP!

As this market completes an expanding pivot at P5 it is also a nice megaphone pattern that has already breached a lower parallel of the smaller pitchfork and is now challenging the same on the larger pitchfork. It is also just bounced off the 0-4 line which if breached should see more downside based on the larger weekly down trend ( see linked chart )

There is also a nice price channel that has had three tests to the downside, so I have completed that number down via the blue stair steps. I also have the reaction line target using pivot 3 as the highest point and the 0-4 line as the centre line. Lets see how this unfolds

Sincerely,

TIK