Reasons
- Higher timeframe premise is bearish
- Power of Three: bearish accumulation occurred around bullish candle prior to the last big move down
- Reaching the low of that candle we arrive at the 78.6 OTE retracement
Comment:
NOTE TO SELF: Must keep in mind the 61.8% retracements count too. Stop focussing too much on the 70.5 and 78.6
