In the daily chart, we can see that the rising trend line currently acts as resistance line of current price,
and the falling trend line acts as the resistance of the current price too,
this makes both the falling and rising trend line creating a confluence, but the direction is still unclear,
the major trend is ...
What we have see here is a triple bottom, with every lows, the MACD is pushing up momentum,
once UJ successfully made a breakout with retrace and fail to break down, long position triggered to 50% of the Fibo ratio
We had many rejections at the demand zone, it seems like the trend line is slowly pushing up the price in a low momentum, therefore for the following days we expect price would be less direction momentum but once the buyers volume are enough we would see a price rally up.
We have met the market price turning point after a few up day,
Hence, if today price bar close with a reversal pattern, we will take short position to the demand zone,
if the price able to close up the falling trend line, a long position will be taken once the price retrace back the trendling.