In the picture above, we see price broke out of the bullish channel and dropped to test it's base. Currently on the daily chart I see price forming a possible head and shoulders pattern, price is yet to confirm it by breaking below the higher low its on. Another setup could be seen on the 15 minute chart, price seems to forming a descending channel towards the daily higher low level. Buys will be confirmed once price breaks above the zone i have drawn. Sells will be confirmed once price breaks below the daily higher low.