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 .
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.
I think once we settle above the trend line, there is a good chance that we begin to push to the top. Im also looking at some bullish momentum coming in next week, but I think we may dip down to 112.400. But like I said, I'm not interested in a short position.