Like in a stairway the price is making Higher Highs and Higher Lows (Trending) now we have to wait for a retracement for entry at a better price and avoid a whipsaw. The other aspect here is the intentions of the investor or trader. Here I leave the two options Let's suppose that we buy at 7.80 then there are two possible targets here: The first is a swing trade with a target around 12.00 The second is a position trade with the expectation that the price surpass the 12.00 area.
I share my ideas with honesty and humility, without falling into something called “illusion of control“