We can see there is a double bottom formed at the bottom ! Currently price is above the first retracement level. When the price reached the 50% Fibo level which is in confluence with Daily Engulf , I will be looking for a short opportunity if there is some bearish price action structure forming at lower time frame ! Comment your thoughts !
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.