CHFNOK is in a run up on the daily period. By taking a Fib from the major impulse high - to - low, we can see that we're nearing two fib levels, the 1.414 and the 1.618- I'm going to look for a short entry around these levels, targeting a test of the most recent level gained, indicated by the "level gained" text.
Price blasted the level and I'm confident we'll see a test - I don't know whether the level will hold or not.
The play is a short, the question is the best entry. By using the fibs, we get a better idea.