We have confluence on this chart.
First there is a strong support that you can extend more to the past and will find important levels that worked and second we have the ratios for a butterfly.
Let's see how this works.
Found this one when i was looking to the emerging markets scenario. The perfection on the ratios is pretty impressive. The AC goes beyond the 0.618, however the ABC is the only part where we can apply some kind of discretionary criteria.
So i conclude that we might have an emerging trap in front of us.