Quite a few confluences here to suggest we will see a new lower low, lining up with the 38.2 fib off the daily and the 88.6 off the 4 hour from the latest outside return which has created a double top
, Target is the 127.2 extension (of the swing from the yellow trend line
). Risk:Reward isn't as good as id like, could lower it to the double tops and ill make a price action judgement if it gets there wether to drawdown or not but i prefer my stops at solid structure.
Happy trading :)