Kind of risky as there were perfect indecision candles at Fibo 1.27 showing bullish power wanted to take over. But still, believe what clues price left you with. Only having indecision candles at Fibo 1.27 is not enough for a reversal. If there was going to be a reversal, a strong bullish candle should appear after indecision candles. However, a strong bearish candle appeared. That meaned the downward movement would keep going.
On the other hand, at previous support level (blue horizontal line), there were candles showing strong bearish power. As the bearish candle at 15:23 broke through confirmation level, 5 minutes should be enough for this new movement.
On the other hand, at previous support level (blue horizontal line), there were candles showing strong bearish power. As the bearish candle at 15:23 broke through confirmation level, 5 minutes should be enough for this new movement.