Analysis. Since the decline from 01-02-2016 to 11-02-2016, price retraced, and managed to climb to 618fib, it got caught between converging lines, a sign of weakness, and divergence in macd formed, I was looking to short right at 618 level, but as i was at the limit of open trades, i didnt take it.. Now its breaking out of the consolidation zone, and it still offers a 3-1 risk to reward.
Plan Short with stop above the zone where price consolidated for two days, Targets are previous swing low, and support trendline from daily.