Context : after having challenged the last key support of the Wave B structure at 2,90 the market finally started the wave C of the (ABC wave structure) showing 20.00 as taking profit level in (linear scale) and 25.00 in extansion. However once again here we are in 1H chart basis with few data historic - so the 2 only key level where we can have confident is 3,90 for the support and 20.00. If you switch in Log scale the equivalent of 20 is at 40.00 (upper part of the yellow ascending range.
Key level :
3,90 is the overlap of the first impulsive move started from the bottom and it is also a resistance graphical area where the market was capped during the wave B - it is alos a ABC wave target (fibo + retracement on the short-term)
As long As 3,90 stay support , buy any dips above to play a break aboce 7,95 (first confirmation level (Taking profit level for scalper) before testing 20.00 (Taking profit level fro multi-day traders).... We can let the market goig sky rocket but this scenario then is more based on non-rational analysis .... only a clear break above 25,00 in daily close would open a larger move.