Before getting involved here I will need 3-4 days of just watching it. from graph we can see that price broke major trend line and started the move up (might be long term trend set up). So lets see what kind of retrenchment is waiting for us and go from there.
Decided to get involved in this move down
1. Garthley on daily we can see it's completion in top left corner.
2. Brake of trend line
3. Bounce down
4. Retrenchment not higher than 0.382
5. And price action, all shows for move down
Lets see if price action pushes more up, only than I will be looking to go short.
There is great area of interest with fibs and trend lines crossing. Lets see how it goes. Trying to find the best place to enter if price confirm our move.