Factors 1. Price has experienced a LT downtrend (Starting May 19) 2. Price slowly building a base with recent price action respecting that lower and upper trendline. 3. EMA is converging 4. There is an overhead gap at $1.45 which I would be looking to target.
Possible Reasons For Failure 1. No bullish price action/candlestick pattern to initiate trade 2. Prices may continue to downtrend 3. Base may breakdown 4. Target might be too optimistic
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