240 set up.
Bearish Wedge break and re-test
AB=CD completion at -27 fib ext targeting the 38.2 fib retracement level.
Head and Shoulders potentially forming where price has bounced off previous structure and possibly heading to a minor level of resistance to continue the move downwards
Overall bearish divergence on the RSI but short term positive divergence in confluence with price possibly seeking minor resistance levels
TARGET fib 38.2 in Confluence with the 2nd CTL touch and also target 2 if the trade is treated as a CTL break retest set up.
Bearish Wedge break and re-test
AB=CD completion at -27 fib ext targeting the 38.2 fib retracement level.
Head and Shoulders potentially forming where price has bounced off previous structure and possibly heading to a minor level of resistance to continue the move downwards
Overall bearish divergence on the RSI but short term positive divergence in confluence with price possibly seeking minor resistance levels
TARGET fib 38.2 in Confluence with the 2nd CTL touch and also target 2 if the trade is treated as a CTL break retest set up.