Expecting for price to reach just under 0.0475 and initiating a long position to target initially 0.057 for a nice 20% gain.
A 12H close below 0.0475 will invalidate this trade.
Long position initiated
I am changing my method slightly, instead of waiting for a close I will just put a stop loss at recent swing low for this long trade and move my stops up accordingly. That is the method I am comfortable with.
SL at just under 0.041