This trade is contingent on confirmation on the daily chart.
There was a falling wedge breakout, price formed a higher low, and is below the volume POC. Having a close in the daily cloud, and breaking above the black horizontal resistance is required to enter this trade. The target comes from volume profile and horizontal resistances. The red highlighted region is where I would expect a full bullish trend to weaken and reverse if it passes the black horizontals.
There was a falling wedge breakout, price formed a higher low, and is below the volume POC. Having a close in the daily cloud, and breaking above the black horizontal resistance is required to enter this trade. The target comes from volume profile and horizontal resistances. The red highlighted region is where I would expect a full bullish trend to weaken and reverse if it passes the black horizontals.