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We saw a breakout from the solid blue lined trendchannel. and now price is consolidating in that area above it. it will most likly only be an ABC correction here - so only more more impulse up. but that impulse can very well bring us all the way up into the 1.48-50 area. simple trade with great risk reward .
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i just liked mine alot based on horizontal structure and i think it provides a very good oppurtunity.
but again. i will also trade the bigger one. but most likly not at 3988. thats a bit early for me. i will use the 127 BC projection inside the bigger one. which would be 3947ish
good luck regardless