Wait for the price to complete the D leg of the formation. Then short and take profit at your Fib line of choice.
Price action in the opposite direction of or beyond point D will invalidate the idea.
The price is currently approaching the .786 Fib level in a corrective move.
Wait for the corrective zone to be completed, then watch for buy or sell set-ups depending on whether the price breaks through or bounces off the .786 Fib level.
Price is currently moving in a channel.
Overall downward price movement expected, which may show some slight retracement.
Watch carefully how price deals with two support zones.
Breaking lower zone may ignite further price drops.