Price is bouncing on the 200 Simple Moving Average, and reached previous support zone.
Long term uptrend: MA 100 > MA 200
Stoch RSI is in oversold zone as well.
Price bounced back from MA 200 many times in the past.
Wait for the next bullish candle before open the trade.
Comment
⋅
Here can form a good double bottom pattern as well. But let's wait for the next candle on the daily chart for confirmation before entering into the trade.
Comment
⋅
Still need to wait for a bullish confirmation candle. Today all major indices are going down, so let's see the following days. Otherwise need to invalidate the trading idea.
Order cancelled
⋅
Price hasn't reached entry level. Idea became invalid.