if price want go for decrease if must first go up to 38, 50 or 61 percent of previous wave (.38 is near the strong resistance) and after this correction if price go down and bellow low of candle 2 it can go more down.
and candle stick formation near the .38 retrace also can claim as a sell signal with small stop loss and big take profit.
also for target 1.618 level of fibo extension is at a strong support area and price can reach it.
and candle stick formation near the .38 retrace also can claim as a sell signal with small stop loss and big take profit.
also for target 1.618 level of fibo extension is at a strong support area and price can reach it.