I am very very bullish on this formation with the MACD the way it is. It can obviously break either way so a trigger is required for entry but I am really digging this setup for a break to the upside. If it goes the other way. Nothing is lost as I hold no position right now.
Watching this VERY closely
Trade closed manually:
Update. This broke to the bullish side and triggered an entry. Stop loss set and was stopped out for a fair gain. This chart is a perfect lesson that things can change very very quickly and always protect your capital.