I can see an ascending triangle (equal highs and higher lows) and an inverse head and shoulders in the chart. Target is ~0.30.
Invalidation level would be daily candle closing below ascending triangle structure, just below .382 fib level. If this were to happen the price would re-enter the downtrend channel and the ascending triangle would be invalidated.
Very clear levels.
This is not investment advice, just my opinion about the current context.
Comment
⋅
Keeping a close eye on today's and tomorrow's closing, to see if the upward triangle is confirmed (purple line).
Personally I think we are witnessing the retest of the downtrend channel (black dashed line) after the breakout. I hope this is a new higher low, therefore I expect an upward expansion in the short term.
Trade closed: target reached
⋅
So it was. I closed it at 2.618 so I missed some profits.