If price can break and hold below the purple dashed line, possible short to point 'D' to complete a Bullish Crab Reversal Pattern. See chart for further details. Point 'D' falls on the established, short-term downward trend line (solid purple), 0.382 retracement of the 2017-06-14 to 2017-06-20 upward price movement, and the price level has also served as support on 2017-06-16. Zooming out further from what is shown here reveals a head-and-shoulders completion, so price may fall even further than 'D'.
If price action fails to hold below the dashed purple line it will likely move upward from here, invalidating the trading idea.
This is not trading advice.
If price action fails to hold below the dashed purple line it will likely move upward from here, invalidating the trading idea.
This is not trading advice.
Comment:
Crab no longer valid, but price may continue downward.