I think this is a good trade to take, just be careful to take profit as soon as it will reach around 38.2% of the down move. After it it will be a huge sell.
Note
I am getting ready to take profit at the top trend line, because it looks like we have a barrier triangle (descending triangle) in the making... if it is so, I will take profit for this short term long position and will look for a short entry for longer term. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.