Lots of confluence at the 78.6 area on the daily , smaller tf patterns creating the structure for the bigger pattern .
The red arrows on the left show that it didn’t tap the 61.8 which is why it probably came back up to tap it properly and wick through the 61.8 / -27 but it’s struggling to push lower and it’s came back up and pushed through that 78.6 on the right ( indicated by the red arrow on the right ) if that 78.6 isn’t respected then it should push higher to the 127...
bearish w pattern , daily 78.6 \ 4hour 78.6 and -27 confluence