AdrianBucor

AdrianBucor

We are likely to hit 161.8 fib from previous move @191.10 while also at support and oversold RSI condition, so there is a potential long setup at 38.2% retracement @216.58 or even 50% fib if you consider the minor levels of structure that we've created @224.57-232.56 range. After this move we could see continuation of a down trend when shorting at those levels...

AdrianBucor

If we push down to complete the C leg @0.5885 of the bigger cypher pattern in my opinion we're likely to see the retracement from the big downtrend and on our way up we should complete the smaller scalping opportunity for the quick short before we continue going up and maybe completing the second cypher.