We have a horizontal line that was never retested once it was broken. We have an ascending trend line that was close to being retested on the 1H, but not a confident retest. We have a potential double bottom at a support/resistance + 78 fib retrace line. If we close above this line, I'd look for it to go north to the 38 fib extension point (where arrow ends).
Comment:
Here's a closeup at a 1H. I'm looking for a good close above horizontal line before taking a buy.
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On a zoomed in 1H chart, it would be wiser for us to break across this descending trend line, retest it and then head upward.
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We've stalled at the 38 Fib extension. Next couple of close 4H bars could dictate direction.