Downtrending channel formation can be seen here. Once price shows good strong support off the lower trend-line, I'll be looking the go long. Other confirmations needed:
1. 1HR MACD divergence
2. Reversal price pattern
3. Strong candle close above (price must not break the trend-line).
1. 1HR MACD divergence
2. Reversal price pattern
3. Strong candle close above (price must not break the trend-line).