Market, after that long drop
, has shown an oversold condition on the RSI
. If it decides to rally up, there might be a potential selling opportunity using the 2618 strategy. The 618 Fibonacci retracement
lines up right some structure levels, so it might be a great area for entry. Stop loss will be above the previous top, using the ATR, and target would be a retest of the lower structure. Risk reward is a little over 1:1, so not a bad opportunity for swing traders trading the 2618.