DislikedI can see what Petar is saying. We've bounced from daily 200 MA and 23.6% fib, RSI has turned up and today's candle is looking mighty fine. Risk is back on (at the moment). I'm going to be a little careful with more shorts until I see how we close today. We have gone over daily ATR though. You thinking bull trap?
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I look at your chart, you are right regarding MA and fib. I'm not saying the bull trend is over, just considering the RRR, I see a good entry for a short position -scallop pattern + S>R - I notice the similar pattern in European equity so made me think of being bearish for one day on two agianst R at .8775