-On higher timeframes we are in correction of uptrend which has a descending channel as correction pattern
-Descending channel inside descending channel also on intraday timeframes (both inside high TF channel)
-So we have strong timeframe confluence here with very good probability of price going up at least to beginning of correction
-Two possible positions depeding how long you want to hold your position, as larger structure will take more time to develop and will have corrections in between
Confirmations to look for: -Risk entry now or -Less risky entry: wait for break of inner descending to up above upper trendline at 1.308 area
This is just idea, not trading advice, use at own risk.
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