1) Proyecting the side of the triangled opposed to the break out: this is in the last years the less common proyections recognized by technical analyst, the advantage of this proyection is that recognize the fact that fast movements often are less sustainables because it gives a dynamic proyection, if the price rise (for this example) is fast, the target is closer and if the price evolve in a more slow pace then the proyection is more extended.
2) Proyecting the heigh of the triangle from the point of the break out. It has been a lot more common to find in the charts the last five or so years, the advantage of this proyection is that gives a more ample objective, which result in better risk rewards ratios, the problem is that the succeed ratio tends to be lower.
One way to work with this two proyections could be use the first one as minimum target and the other as a more optimistic scenario.
By the way the small pullback formed after the break out, should make this set up, more attractive because the better risk reward ratio offered using the low of the pullback as stop loss.