1) There is a divergence between price and momentum. 2) The trend is still bearish.
Recommendation:
1) Long now on a small position and add on if/when the trend reverses. 2) If you are using Ichimoku, add more to your position when the TS crosses the KS, when the KS turns upward, and when the price closes above the cloud. 3) Set tight stops and adjust it when profiting.
Thanks and happy trading!
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Sticking to the trade. The stop has not yet been reached (which is set just below the most recent low).
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Trade is stopped out. Trend continues to be bearish.
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I'm gonna continue to monitor this pair and possibly go long again once there are more signs of reversal. But going to leave it alone for now.