My point of view has 3 ideas:
1. Downward resistances 1 and 2 were broken, 3 in the view (all in red).
2. Previous two big falls were followed by 38,2 retracement in good shape (see the return in each case).
3. In this third big fall, before reach next 38,2 retracement, it will wait a congestion in the the 23,6% retracement area (around 5.40) near the last downward resistance for to break.
1. Downward resistances 1 and 2 were broken, 3 in the view (all in red).
2. Previous two big falls were followed by 38,2 retracement in good shape (see the return in each case).
3. In this third big fall, before reach next 38,2 retracement, it will wait a congestion in the the 23,6% retracement area (around 5.40) near the last downward resistance for to break.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.