After strong impulsive leg to the downside, violating previous structure low an area of confluence appeared between 0.5 Fibonacci retracement, 50 EMA and previous structure low. Expecting the price to test 57,70 and then renew the downside move, reaching 100% Fibonacci projection and previous level of support.
Entry - 57.70
Stop loss - 58.16 (above 0.618)
Take target - 52.70
R:R = 11:1
Entry - 57.70
Stop loss - 58.16 (above 0.618)
Take target - 52.70
R:R = 11:1