ONE - Found support, but still bearish

The initial reaction shown in the last chart (blue arrow in related idea) worked out nicely, but there was not follow-through and price broke down again, below the rising trendline.

We have now found support at the 0.115 region, but the macro scenario is still bearish.

An option would be to enter a long trade, expecting a retest of the 0.165 resistance and descending trendline. But, at current levels, the risk/reward ratio is not good enough for me. If we get a pullback down to ~ 0.13, I may look for a long trade.

For now, I´m sitting this one out.