The previous move was clearly a five-wave downward move. now the price is retraced about 50% of the past move. we can expect the trend to resume its downward direction. but first the instrument can retrace some more and goes up to reach about 61.8 to 78.6 fib ret. you can short it now with Reward/ risk 3.5. Good luck.
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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.