I don't believe the downtrend is done, however I can see a potential short term bullish movement towards the .618 fib level above.
Possible set-up would be enter upon neckline break. To increase chance of probability, I would enter on a re-test of the neck-line (resistance turned into support).
Another set-up would be to play the up-trend line support, with a break of the bull flag. Will probably meet the apex of this confluence zone, then break up to test the neckline resistance.
This set-up will need to be re-evaluated if up-trend line is broken.
Things to consider:
-Volume. Price has creeped it's way higher from the "bottom", but Volume has been declining. This divergence concerns me for another leg down to happen.
Safe trading!
Possible set-up would be enter upon neckline break. To increase chance of probability, I would enter on a re-test of the neck-line (resistance turned into support).
Another set-up would be to play the up-trend line support, with a break of the bull flag. Will probably meet the apex of this confluence zone, then break up to test the neckline resistance.
This set-up will need to be re-evaluated if up-trend line is broken.
Things to consider:
-Volume. Price has creeped it's way higher from the "bottom", but Volume has been declining. This divergence concerns me for another leg down to happen.
Safe trading!
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So far squeezing into apex. Breakout soon