This idea is based in the Fibonacci Speed Resistance Fan for trend lines.
As could be seen in the chart, the current down trend (B-C) breakout the previous uptrend (A-B) 61.8% Fibonacci speed resistance.
On the other side, the down trend line (B-C) is still below its own 38.6% its Fibonacci speed resistance, which makes me believe the down trend will continue.
Take profit will be between 50%- 61.8 retracement of the up trend line (A-B).
As could be seen in the chart, the current down trend (B-C) breakout the previous uptrend (A-B) 61.8% Fibonacci speed resistance.
On the other side, the down trend line (B-C) is still below its own 38.6% its Fibonacci speed resistance, which makes me believe the down trend will continue.
Take profit will be between 50%- 61.8 retracement of the up trend line (A-B).