We may be seeing what is potentially an elliot wave
ABCDE correctional pattern. Look for the price to bounce off of the support line off the triangle (which would be E of the correctional pattern). If it bounces you may look to enter just above the support line and look to sell just previous to the resistance line of the triangle. If the price cleanly breaks through the resistance of the triangle, we may see a continuation of the uptrend and a new impulse wave. The immediate re-tracement of the impulse wave bounced off of the .5 fibonacci level. However, whats important is a continuation of an uptrend. Price targets may vary. Using a fibonacci extension
of the first impulse wave I have a target as shown on the chart. This is a long term play, and if a bounce is seen off of support and through resistance look for a continued uptrend. Place a stop-loss below the triangle. Do not enter into a long trade unless you see a bounce off support and if it breaks resistance be careful for fake outs and look to rsi
to confirm the trend. You want to see a clean and strong break through resistance and clearance of the previous swing high.