After almost hitting the inner arc it might face downwards again. Might be some drawing error on the arcs but it looks quite accurate in this position. The stop loss is placed above the outer arc, and a short entry could possible be done later on. Local ascending patterns (for instance Triangle pattern) might be the trigger. Also look how close it is the globale trend line.
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Here is the original idea.
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A close-up:
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Strong Resistance on "the neck line" currently:
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The RSI Trend line is also broken: