Based on our Fibonacci drawn from high to low on this daily time frame, we can clearly see that price has stopped at an entry zone for bears. Another confluence for this entry zone is the horizontal line drawn at the 61.8 level of the Fib, and as you can see price has touched this area a few times now. If you take this idea, make sure to set your stop losses based off of your risk management plan, and expect for take profit levels to be around 19.0706 and 18.7472.