There is an overall trend line headed down, I do believe it is going to head up first. The green highlight is a retracement of 50% and also a floor which i believe will be respected. Once it makes it way up to the major trend line, it will be a good time to enter as I believe it will be going down from there. Another entry could be when it breaks through the ceiling.
On the day chart, the highest ceiling is the second hit on a Major Trend. But there is a shorter trend I identified that has hit more than 3 times. On the third time, it retraced up to 38.20 on fib which is why i believe it will be a steep sell opportunity until it breaks through the floor and tests it as a ceiling before going down. That test will be my entry.
If it does not respect trend line, I'm banking on it to respect the 23.60 Fib and drop. If it does respect the trend line, Im banking on it to respect the support line, then use it as a ceiling before dropping. My two points of entry, I'm looking at closely, are the test of the 23.6 and the test of the support line Before taking a push down.
