This is how I would draw it, that is not to say it is the only...

This is how I would draw it, that is not to say it is the only way to draw it........no right or wrongs here.......

Note- that a breakdown line signifies where price has previously found support, and the widespread downbars which decisively breakdown through are the breakdown bars. When you see obvious breakdown bars like this, it usually signifies professional involvement, and if so, it means that they will not allow price to recover the breakdown line (as they are probably supporting short positions). So if you are a holder stuck in this situation, unless there is an unexpected good news announcement, the professionals Will Not allow you to get out, they don't want you to. They want you to sell at a loss, and therefore add to the supply which favours their short positions, or sell back to them at the lows if/when they accumulate again.
A series of lines drawn like this show price moving between levels, and it is at the edges of levels like this that high probability, lower risk trades are to be found. So shorting at the breakdown lines, as price makes repeated (futile...) attempts to recover the level, can be a profitable venture (and the mirror image opposite is true when price is trending higher for taking long positions).

As usual, hit me up with any questions about the principles, or the jargon, if you want a more detailed explanation........



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