SCENARIO - 12.50 should support price now...looking for base that then move to take out 15.50 and establish a range between 15.50 - 16.20 the last high before the 10.77 low.
If that happens a break thru 16.20 would be the buy if you are too risk averse to speculate where it is now.
If you do speculate where it is now at 13 the stop would be below the 10.77 low
Targets after 16.20 break would be 19 and 21.85.....If it makes it there 23.50 - 24.87 which has our highest concentration of would likely be the next target area.
SCENARIO....Um this is easy....short it if the low breaks at 10.77 stops would have to be determined after the formation that fills in under 12.50 took shape and broke....you would need to follow the price down with your stops as the price would more than likely be very parabolic fall very fast.