I want to show my approach on how I look at declines after a rally. You can notice a resistance at those arcs. In this case, often the 4th down-move does break the circle towards the next one. Sometimes the circle is hit, sometimes the Fibo-Retracement.
In the short term we should be Long but once we reach the next Fibo-Arc it might be hard to have a quick recovery. Shall we break out of the circle more rapidly then this could be a short signal.
SL is the recent low. If we cross this then this is would be a bad sign as well.