- Converging channel pattern indicates upward trend in short-run. - Low risk (SL is optional at any point below the lower channel trend line) because price hit channel bottom. Only movement upwards likely. - RSI at approx. 40 suggests underbought.
- Watch for breakout as channel increasingly converging. After TP is successful, can set a trade order partly above or below the current price - to catch the breakout for a quick profit.