$OSMO I will say it clearly here, this pattern sends me bullish signals 🚀. Especially if a correction occurs to the support level at 0.1565 or 0.1549, a strong rebound is expected from that area and a rise again towards the level of 0.1607.
The ideal area to enter a buy trade is 0.1565 or 0.1549. Never enter before a confirmation signal appears, such as a 'pin bar' or 'bullish engulfing' candle, or any reversal signal on smaller time frames. If a confirmation signal appears, you can enter from these areas, with the first target being 0.1607, and the second target will depend on the new peak level that will form.
I won't mention a specific price for the stop loss, but it's preferable to place it below the last low (for example: 0.1535), so that you exit the trade if the trend is broken.
However, if the price drops quickly below 0.1544 and fails to hold there, the bullish scenario will be broken, and in this case, a drop to support levels of 0.1519 and 0.1507 can be expected.
