The idea here is simple. We had a strong bearish impulse, then price started slowly retracing and reached the 50% retracement level.
We are waiting for it to make a double top right at that level in order to enter for the next bearish impulse that should go at least to the 0% level, and could go as far as the -61.8%.
We are waiting for it to make a double top right at that level in order to enter for the next bearish impulse that should go at least to the 0% level, and could go as far as the -61.8%.