I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
Reasons to go long
- 200 MA is being respected - support at 889 level - ascending channel touches support level at the 889 level - candle on the 12/12/2016 broke above previous weeks candle (pinbar) - stop goes below the 200 MA