Betting on a price increase after a sharp price decrease is called "catching a falling knife". In fact, you may have heard someone say, "don't try to catch a falling knife." The analogy is meant to sound dangerous because it is very risky to buy a stock that is dropping rapidly. The hope is that if you time it right, you will get in at the bottom and make big...
catching the falling knife this is not good and not the best of confluence. At the very high weekly timeframe this is still down so I am trying to batch in my positions for this pair. However week by week momentum is clearly still up.
Macd divergence shown.