Analysis is based on simplified SMC concepts. There was a significant impulsive move above $217.65 (noted by the "W-BoS" or Break of Structure). Price action has been steadily pulling back into this prior demand area ($152.37-$217.65). Current price is in a significant discount zone and I anticipate price to impulsively move out of this area in the coming weeks. Plan on holding this trade idea for a few months. ~7 months
Reward to Risk ratios could vary between 5:1 up to 28:1 depending on the instrument you are trading.