looking at VET here on the 1 hr we can see that price had an impulsive push to the upside finding resistance at a fib level,
since then price has made a rejection from the high and is moving correctively in the form of a descending channel back to the most recent fib support area that it previously broke through, anticipating for price action to complete the correction and possibly confirm support at the double bottom or move slightly further back to the fib level where they grey box is located. if price rejected this support and confirms a move to the upside this can be a good high probability move to the upside for long positions in the green zone.
since then price has made a rejection from the high and is moving correctively in the form of a descending channel back to the most recent fib support area that it previously broke through, anticipating for price action to complete the correction and possibly confirm support at the double bottom or move slightly further back to the fib level where they grey box is located. if price rejected this support and confirms a move to the upside this can be a good high probability move to the upside for long positions in the green zone.