This opportunity has been going on for a while now. It was looking like a rectangle at first. But sense it did not hold it self up at the support line. It is less likelely that this is a recangle formation. Sense the market changes pretty spuratically. This is a higher risk trade. Just as an FYI. There is still that change that it will go long once it reaches the red line. We have to see it make a notable break past the 2nd resistance line to be considered in a full trend continuation pattern.
Once it reaches the lower support line. IMO, you should close the trade and re-evaluate the situation.