endlessThanks for the info. Not much to add to your chart but...

endless

Thanks for the info. Not much to add to your chart but here is a different view you may be interested in. I've drawn in a couple of totterdel91's pitchforks (thanks totters). The pink fork frames the price action on the current downtrend, price has been trying to break through the top resistance tine on the way down but failed to hold above so this fork still appears to be valid unless the current break can hold. The green fork looks promising. Price has tested the bottom support tine and gapped below it and moved down to support on the black trigger line (in this case it's also your LT support line) this is meant to be a sign of strong support if it holds. On backtest of the bottom green support tine the price has gapped above. A retest and hold of this tine would confirm the green fork and indicate a march north.

I've drawn in one of Robbb's speed angles (thanks Robbb)to indicate the repeating range you mentioned which seems to line up with the intersection of the top of the trend channel and the green median line where we would expect price to be drawn? There is that red downtrend resistance of course. The black ADX line looks oversold too indicating we may be in for a strong move. All speculation of course and hope I haven't managed to confuse you with this, just trying to offer a different view which may be worth watching.




this is not a recommendation to buy or sell

Rhodes