As you can see on the weekly timeframe the 61 fib lines up with the 200 EMA and the 200 SMA, giving me reason to believe this will be a good sell area in the future.
Simple as that.
Let me know what you guys think. :)
My reason for this set up is the fact I have 5 confluences, previous wick showing me a good area of intrest (BUY), trend line touch, ema touch, 38 fib touch and also being the 1900 round number.
Let me know what you guys think.