Price could go down for a bigger correction if it were to impulse up so might as well capitalize on it. Price also created a steep Ascending Channel at an area of RS which could indicate that price is about to drop.
Price created a structure for Selling at the previous area of RS and could probable be heading down to previous area of SP
Price has touched previous SP for the 3rd time with a 2 touch Falling Wedge as the most recent(1H) structure
Rising Wedge as the continuation pattern after the impulse down
3rd touch with a Rejection on the SP of the Pennant
Price touch previous horizontal RS and could probably retrace
Price touch the SP of the Descending Channel for the 3rd time also creating another Descending Channel on the way and now has impulse up and could probably be creating a correction for the next impulse up.
Price moved very correctively down to previous horizontal RS. Just wanna catch a small retrace