Two plans depending on the price action that occurs inside the blue box on the trendline. If it breaks it it should re-test that area good for a short. If it's starting to show wicks and a confirmation candle (either on daily or 4H TF) then it should be good to long it. If Elliot wave is completed then it could break that trendline to the upside but 300 pips should be first take profit and let a second position run.