Taking a look at the weekly, notice the 200sma is floating right around the 50% fib level. An interesting level to pay attention to as it has the potential to provide a nice risk to reward ratio.
Note
Forgot to add the channel which will help signal the short when the lower trendline is violated.
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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.