We had a monthly descending triangle which has broken to the upside, we also had a pull-back and a correction in the daily time frame. At the same time we have a bullish flag in formation in the daily frame. Upside is preferred if we break the yellow trend line after another small pull back. However if we go below the blue line, this would be considered as a fake break out and we going back to the descending triangle once again, which then we will probably test the bottom again.
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broke out, upside prevails !
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retracing back to the line, before more upside.
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this is going fine, its taking longer then expected, I shall wait for confirmation before longing this.