My initial thoughts are that this is a bearish pennant, looking for the long-term break to the downside.
However it is possible that there has already been a break to the topside (so maybe it's a descending triangle). The open of the Sydney session and price action through monday will aid to clarify whether it will be a long or short position.
LONG: With the break of the daily support we need to look for the retest. If price rejects there is the possibility that it could drop a little further (down to the lower support) before the hike back up to the topside.
Short: If price rejects from the line where it sits currently then we want to wait for the break/retest of the lower pennant (triangle) support before the drop.
However it is possible that there has already been a break to the topside (so maybe it's a descending triangle). The open of the Sydney session and price action through monday will aid to clarify whether it will be a long or short position.
LONG: With the break of the daily support we need to look for the retest. If price rejects there is the possibility that it could drop a little further (down to the lower support) before the hike back up to the topside.
Short: If price rejects from the line where it sits currently then we want to wait for the break/retest of the lower pennant (triangle) support before the drop.