The blue support tine is the make or break line. If it closes below that line, the black fork is dominant and price will more than likely fall to the lowest black line.
The entry position you make up to suit your own risk profile. As price is declining, it looks to me like it will try to test the black Median Line again. So I would judge an entry to get the best price I could above the black ML and blue support tine. So depending on the bid queue, I might have a go at .31
If I get a fill, my risk is 1 to 1.5c. If I had a ping at 31.5, my risk is 2c.
lets assume an entry of 31.5 as you suggest, and a first target of .45 where the blue ML should be if price ever gets there. Risk reward is 13.5 / 2 which is above my 5:1 minimum.
