Short term squeeze

Looks like the market is about to get squeezed down below the breakout zone. It will probably stop anywhere from $200 to $210 next. We have a large downward channel acting as the top of a descending triangle that will take us to the low $200s. We had a failed H&S that took us to $245 where we were stopped by the lower end of the breakout zone before the big parabolic move.

This is a pretty safe trade with a decent R/R and high probability, although it is not that big. Given that the trend is still down, it is the safest bet right now.

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