Wait for the bounce on the downtrend line or the .382 fibo

We will be testing the downtrend line again to see if it holds. A good bounce is a buy signal. If it doesn't hold, a good bounce on the .382 fibo is a second entry option. This will also create a double bottom which is a good trend reversal signal.

Commentaire:

Price broke through the 0.5 fibo and bounced. The bulls are out in force. I've opened a long position now.