Dual Range Structure with Asymmetric Upside Potential

BMN is setting up beautifully for a high conviction swing. Take a moment to study this chart, there’s a lot unfolding beneath the surface.

Structural Overview
Large Range (Red Labels):
A textbook Wyckoff reaccumulation structure dating back to August 2021.
Gradually increasing volume as price climbs suggests we're approaching Jump Across the Creek (JAC) a bullish inflection point.

Smaller Range (Yellow Labels):
Price appears to be forming its Sign of Strength (SOS).
A minor pullback to form a Last Point of Support (LPS) is possible before continuation.

Trade Scenarios
Scenario 1: Conservative Setup
Entry: Now
Stop Loss: Monthly swing low at $1.70
Targets:
TP1: ~$7.22 — initial range target with heavy resistance and key Gann extensions (not shown)
TP2: If price clears this zone, look for the larger range target

Note: There’s a marked Fair Value Gap (FVG) prior to TP1. Price may reject, consolidate, then push through. Consider partial profit near the EQ of the FVG depending on risk appetite.

Scenario 2: Aggressive Setup
Entry: Now
Stop Loss: $2.84 — tighter buffer based on momentum and closes above two key 50% range levels
Targets: Same as Scenario 1

While momentum supports the aggressive SL, keep in mind the SOS is still forming. Expect a potential pullback to create LPS before continuation.