Here on my analysis we can see a Stoch oscillator, the Stoch is very clearly indicating an oversold signal, we also have a Inverted Hammer candlestick which occurred at a significant price level, in this trade the aim is to catch the retracement before price could possible return into a downtrend or breakthrough the previous support level then we would be looking to take more long positions or possibly go short if price rejects the level with a bearish confirmation sign.