At a glance, we can notice two key levels in the chart (see the green and red arrows), respectively to set up a long or short trading strategy. The long set-up is marked by the double top (see the previous resistance line), at 100% FIBO level. The short set-up is marked by the 78.60% FIBO level. The last one will be also confirmed with the break of the lower line of the parallel channel.
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The break of the 78.60% FIBO level marks the short set-up.