The down move has recently weakened after reaching an axis line. A confluence of weekly swing low, axis line, and also descending channel is also detected. However the last down move had a large volume.
Enter long on the weekly swing low, if there's change of behaviour in the form of a high volumed up move, there's no more reason to worry and set your target at TP1 or TP2, the high of the descending channel.
SL if the price closes below the support line marked X.
Enter long on the weekly swing low, if there's change of behaviour in the form of a high volumed up move, there's no more reason to worry and set your target at TP1 or TP2, the high of the descending channel.
SL if the price closes below the support line marked X.