The price bounces from the resistance zone formed by SMA100, the downtrend line and 11.00 resistance level. MACD supports downward movement and we should be ready to see the price at 10.00 level again. At the same time the market gives us a new high which can be used for placing pending orders for buy. If the market reverses and breaks the resistance zone, probably we'll get a strong upward movement. In order to catch such movement, we can place buy orders at 11.20 level. Stop orders must be below the local swing low at 9.80 level. Profit targets are 12.50 and 16.00 resistance levels. The part of trade volume can be left for long run.
According to my occult magnetism analysis this is very risky.
UncannyDeduction
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When it breaks the Fibonacci ring it could either explode up or down. Right now it looks bearish to my rookie eyes so I'm expecting an explosion down. If it goes above $12.5 I think you can raise that resistance level alot higher.