Momentum is definitely rising and higher highs and higher lows were formed. Plus, the last down move formed an almost perfect . The first goal post of 0.618 has been reached and I believe that the next one of 1.0 is next, and can happen just this week. To justify a stop, a new tentative channel (with ZERO confirmation - so caveat emptor!) has been drawn. I have then a definite target and a nice stop with a great risk/reward ratio. Depending on how the markets open this Monday, I will open my long position with these goalposts.
Nonetheless, mostly due to the absence of any fundamentals to justify it, I will reduce the size of my position