This trade will be valid which ever way it breaks. I would think a breakout to upside would gather the most traction but you never know!
is starting to give a clue by showing some . Although, this is not a signal to enter the trade for me.
Entry - I use a Break & Close out of the Balance Area for my entry.
Stops - I use 1 ATR Above or Below the Breakout Bar.
Target#1 - I use a measured move of the Balance Area (Blue Line).
-For the Upside break, Target #1 has confluence with Structure and a 38.2% Fib Retracement from the highs.
-For the downside break, Target #1 is simply just the measured move.
Target #2 - I use the next Major Fib for Target #2.
-For the upside break, Target #2 has confluence with Structure and the 61.8% Fib Retracement from the highs.
-For the downside break, Target #2 is simply just the 1.618% Fib Extension.
Best of Luck!