Another pattern to be watched in its early formation, recent strong down trend just got breached with strength. We're in an oversold position, if the MACD line stays above zero and we watch a crossing also on the positive y-axis we might see a good and strong up movement.
Buying on a little over the high of the first candle body completely closed out of the pennant to confirm movement up would be the safest play.
Buying on a little over the high of the first candle body completely closed out of the pennant to confirm movement up would be the safest play.
Comment:
If the price starts stabilizing on a horizontal trend, I would definitely consider accumulating for a longer-time frame trade judging the very recent up trend formed as it grows stronger if the price stays stable and or slowly increases.