Visa (V) - When and where to long (or short!)

V (Visa) is making corrective moves along with overall market. Assuming we "bounce" and don't go into a full blown recession this is a concrete trading idea for when to go long. While V could arguably correct from here at the 618, I believe we are in for further downside. Targeting the 786 retrace of the latest swing makes sense.

Why take it this? Excellent reversal idea with solid risk to reward. (1:3 TP1 and 1:4 TP2)

Entry: 192.45 - Long from longer term support zone and when market conditions look favorable for a bounce
Stop loss: 184.7 - Lower low (market structure continues with the LL LH path, idea is invalidated)
TP1: 217.6 - s/r level
TP2: 224 - s/r level

PS... Since I expect a reaction here at the 618 ($198), if you wish to short you can enter short off the psychological $200 level (0.5 fib) back down to the long entry target. I would argue this trades with current trend direction even better but I know how psychologically many have a hard time shorting.

Zoomed out view of setup

Trade closed: stop reached:

Breaking the lower low here invalidates this idea (for me) for now. The LH/LL pattern just isn't something I want to be a part of. It might have a relief, but I think that will be short lived.