Long trade ahead?

I've placed a buy stop above the last trading day's high. Bullish factors for this are:

• After reaching the low on the 5th August, the price has formed a nice upward trend consisting of higher highs and higher lows.
  
• We are now about to form the next higher low (this will be confirmed by a break of the last day's daily high).
  
• The 30- and 50-day SMA are about to align bullishly.