Now there are 3 ways this structure can develop and the result is same; long term buy setup.
But at the trading perspective, you have to have an appropriate strategy for all of them and you have to know your stop loss, target and when to enter...
here is a mid term trade.
the correction is a type of flat
wait for the candle to close above trend line and better to wait for a consolidation or correction above trend line to confirm the breakout then take the trade
price is in a triangular pattern.
Usually triangles can break both ways, but I think this triangle is going to break upside.
Now structure is possible for both ways, its in wave 4 of an impulse to down, or in wave 2 for more upside; so if it breaks to upside I'm in, but if it breaks downside, i have no sell setup until a clear correction occur.
complex correction is about to end.
I think this anticipated down wave is going to complete a bigger flat correction as wave X of daily TF.
If this triangle broke to the upside, then there is one more wave to upside and reverse to downside
I know this chart is a mess! but that's because complex corrective patterns are mess and they can form variety of combinations for long time; but eventually one of these waves is the final one and price will finish the corrective phase and start an extremely impulsive and trendy wave which non of us want to miss it, so we have to risk and take trades in each wave...