Looking to go long on bounce at M/W trend line

2017年8月20日

Price went back up over monthly/weekly trend line into the rising wedge. Strong weekly bullish engulfing formed at break and now correcting that move. Pinbar on touch of trend line and bottom of Bollinger Bands in 4H chart indicating lack of movement continuing down. But i expect a small down move before bulls take over. Divergence in MACD and Stochastic with Stochastic closing in on 20 level indicating over sold.