The down move has recently weakened after reaching an axis line. A confluence of weekly swing low, axis line, and also descending channel is also detected. However the last down move had a large volume.
Enter long on the weekly swing low, if there's change of behaviour in the form of a high volumed up move, there's no more reason to worry and set your target at...
There has been an ease of movement towards the downside from the parallel ascending channel signaling strong bearish movement in the upcoming week. There is also increase of volume when the price moves downward. Wait for a retracement around the previous swing low for entry. Stop loss if the price closes above the ascending channel.
