I'll wait for a breakout and consolidation above the upper to go long. If we break down, I might short it, the target could be the previously below.
- Zone at the of the last big move down and the 161.8 projection of wave 1 from the low at 2 (depending on where it ends).
- Leaving a considerable part open for targets higher up (zoom out in the chart or check higher timeframe ideas).
Below the lowest low of the retracement.