In daily, The price breaks the descending channel but it has not enough power even to complete the double bottom pattern and again return from Fibonacci 23.
So waiting for a pullback in the H1 timeframe.
I use 2% risk.
Thanks to the Spgian
The price is in a range and there is resistance in the daily timeframe that the price reacts to it several times.
There is also a reversal daily candle.
Overbought in the stochastic oscillator also seen.
The trendline in the daily chart.
Now you could place an order but for a better risk-reward ratio, you should wait some more days and let the price go up to near Fibo 68.
The trigger would be a pullback to the trendline after breaking it.
I think it's a good opportunity.
In the daily timeframe:
A pullback to the trend line.
Overbought in the Stochastic oscillator.
AB = CD pattern
Good risk-reward ratio
Thanks to LCFXpro,
There are good support line, Divergence in MACD, Stochastic indicator.
Because of good risk-reward ratio, I go for Buy now but you could wait till the Stochastic indicator break its trend line.
After a long bearish course, the price should rest for a while.
The support line may be a good spot to return.
Also, there is Hidden Divergence in the daily chart with the MACD indicator.
The trigger to enter the trade is breaking the trend line.
(Regarding to the much bearish force, the return amount couldn't be too much!)
in H4 timeframe:
the price breaks the trend line and waiting for a pullback.
the trigger is when the price will go higher than the last high point.
Also, there is a divergence in MACD in the daily timeframe.
The target is 0.62 Fibo.
However, please note that the price is on the daily descending channel.