A retest of the profit trend line presents a forth chance entry for this setup. Are you able to spot all the 4 valid opportunities? There are 2 ways you can approach this setup:
i) You can wait for a magic candle to rest on the trendline with a 3-bar reversal then engage the trade or
ii) You can place a pending order to engage the trade.
Any of these options have its Pro(s) and Con(s)
If you choose option(i)
If the market break and close below the trendline you will risk hitting stop-loss.
It builds confidence in holding on to your trade.
If market touch and head towards profit you will miss the trade.
You will need a bigger stop-loss level compared to a Buy Limit Order.
If you choose option(ii)
It gives you the best possible Reward: Risk
You will get filled even when the market reverses on your Entry
If candles break and close below the trendline, it may hit your stop loss, even if it did not hit your stop loss it will affect your confidence in holding on the trade especially if you have not done sufficient backtest.