The high-volume shooting star of January 2016 coincided with the bearish breakout of the Stoch TL. The highest point of the rally is not only an intersection point of parallel MLs but also a Fib confluence level. These all suggest a bearish turn in the trend. The area pointed by the red circle is likely to be visited, after which I charted two possible courses of action. For the time being it would be enough just to open the gates for lower time-frame shorts.
