Price is starting to break down 240 min chart. On the 30 min we have a potential measured move. I'm looking for price to retrace back to the .382 fib (.70451) and then continue to the 1.618 fib ext to .6980. The measured move from the .382 to the 1.618 ext is exactly the same length. Also, the .382 fib level has acted as former support. I would have my stop just above the .618 at .7070 to give the trade some room to develop. The Cypher on the 240 min chart is still valid has well. If price closes on the 240 min above .69843, the Bearish Bat is still valid too. Good luck trading out there.
