After breaking below the ascending trendline, we will now be looking for a pullback on 0.618 fib retracement in confluence to the previous support levels now acting as potential resistance. Furthermore, we have a current respectable descending trendline which can experience a rejection from and we can try opening shorts around then!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.