Two ideas: 1. Buy if the market retests at the red trendline. I would not enter without that confirmation. Other confirmations for this trade are engulfing candle and that zone respecting the fib taken from previous low to high. 2. Sell if the market breaks the red trendline. I would look for a candle confirmation and also I would wait for the market to retest at a significant level of support that was marked in a higher timeframe (4 hour). This level was marked in green.
Feedback received from Jesse: “This is good, your buy target can be a bit higher, top of the channel where trendline intersects with blue resistance would be solid. Black trendline could be a partial TP.
For sells a retest of the last low should also line up with your trendline retest, double confirm right there.”