Price has broken out of a w-x-y-z, so a consolidation on a lower timeframe for a buy is a good idea. With this trading idea in mind, be prepared to be slapped if you are a seller. It doesn't mean the buyers can't be slapped either, it's just that there is high probability of price moving in their direction.
If you taking this trade, please use a strategy you have tested. Thank you for your support.