Pros for going long:
- the trend is up (see the top blue indicator and its purple which are overlayed on the price)
- the bottom indicator reached the bottom trendline and returned with plenty of room to move up till upper (and likely the price will do the same)
- the middle, green indicator reached a bottom (which means that there is likely significant movement in price, in either direction, coming up) and next bar is up confirming an up move
Pros for going short:
A long position seems to have a lot of profit potential (another one may be APA, see related idea, but TALO looks more promising).
DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.