By almost any criteria one might use, the says we're in a downtrend. In this scenario, I would ordinarily be looking for a rally to jump in on the short side; but there are a few indications that we're at or near what should be a significant low that's worth a shot at a long trade. Although not shown here, the weekly chart indicates that a major low was made in January and the current downtrend on the is simply a correction (or part of a correction) to a long-term uptrend.
The numbering displayed here on the is Tom DeMark's trademarked "TD Aggressive Combo" method for identifying potential turning points before price confirms them. The number 13 at the low is the end of the countdown phase of this approach, and indicates a likely point for a potential reversal.
On the 6-hour chart, Barry Burn's modified has formed a (apart from the divergence pattern of the ) that indicates upward momentum has been building for several days (for a different take on how to interpret this indicator, see his Foundations courses). If Friday's highs are tested again, it appears the resistance will be broken.
Finally, the modified slow I use for timing entries on the 90-minute chart has formed two divergences, with the latest one being last Thursday's cycle low (it's common for the second divergence in this indicator to signal the end of the cycle when supported by the longer time-frames). At that point, a reversal bar formed and a long trade triggered at the break of it's high, at the asking price of 0.79098.
As I was travelling at the time the trade triggered, I missed the entry trigger. I'm now looking for a long entry if price declines below that level and then breaks it again to the upside (or forms another reversal bar/trigger at a lower level).
Stop-loss at 0.71760
1st target: 0.73110 (sell 1/3 of initial position)
2nd target: 0.74947 (sell 1/3 of initial position)
Trail stop-loss on remainder