On the above 2-day chart price action has corrected over 80%. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Price action corrects to past resistance/support.
3) Price action backtest is also the Fibonacci 0.236
4) Finally, the flag breakout projects a 150% target.
Is it possible price action falls further? Sure.
Is it probable? no.
Ww
Type: trade
Risk: <=6%
Timeframe: Longs from now until month end
Return: 150%