Chart has formed the Inverse Head & Shoulder Reversal pattern and gave breakout. It is already trading out of Regression Channel so downtrend in hourly charts seems to be over for time being. After breaking out it is retracing so one could use this pull back for a good entry. We can look for a target of above 260. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Trade active
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Comment
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Inverse H&S pattern has been invalidated however it is getting support at double bottom so let's watch at current level.
Trade closed manually
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No direction stuck in the range so closing the trade and look other trading opportunity.