Using Fib retracement on smaller and bigger waves shows the red box is an interest for sellers to get into the trade. Using a Fib Extension, it points this area as a strong sell.
Also, there is Daily order block here that Volume supports this area for a short position.
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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.