I won't be trading the breakout of the downside, only the upside. Once the trendline and the resistance line is broken buy, with a Take Profit near the resistance level after that. Stop loss below the trendline.
Note
The market hasn't opened yet, and I decided to change this idea. The new trade trade has a bit lower Risk:Reward Ratio, but I think it will be a better trade as the previous trendline had a fake breakout once, and might have it again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.