Take a moment and look at the price chart. Without a doubt you could tell there is potential trade opportunity. My preferred method of analysing the market remain the wave principle. But even from technical perspective one could tell the trend is up as the market tend to make impulsive moves to the upside and correct towards the trendline then reverses up. The question is how do we formulate a trade plan from this? Am sure we have the same taught... You could either buy right a way with a stop kept just at 0.22018 or if you are a more conservative trader you might want to see the extreme of 0.34150 gives way before taking a position. Whatever your method is to trading remember to manage risk...