new year low or a bounce?

6 Jun 2021

look onto either daily or weekly, you can see a possible double bottom formation, not perfect but on daily chart the big strong bullish candle does convince me there's going to be a bounce coming up in this new week. My setup is a bit conservative much lower than Friday's close, will keep watching if order not filled. (order not entered yet... may change my mind to price it higher for entry depending on the market opening). 1:4.58 but can be even higher given the fact it will attract lots of buying once it breaks through the upper trend line.