I was looking at this one on the Daily actually...
Now considering a short on the 4h if we get a good sell signal around the same res/trend line area. Expecting a bit of a bumpy ride down, but I would aim for a first target around the 61.8% area and then down to the bottom trend line, chasing it with a trailing stop behind the swings.
Not sure yet if this is one I will take, but lets see how it goes.
(Note: I could have drawn that Fib from the bottom up as well, but the levels are about the same anyway...)
Now considering a short on the 4h if we get a good sell signal around the same res/trend line area. Expecting a bit of a bumpy ride down, but I would aim for a first target around the 61.8% area and then down to the bottom trend line, chasing it with a trailing stop behind the swings.
Not sure yet if this is one I will take, but lets see how it goes.
(Note: I could have drawn that Fib from the bottom up as well, but the levels are about the same anyway...)