trip_dad: I mentioned SOEN because the chart looked like one EP has said to look out for. Strictly a technical perspective.
I'm still not sure if it's best to wait for the breakout or take a position before. I guess it depends on your ability to stay on top of it.
Perhaps "dipping a toe in" is the right way to play it. Keeps your attention on it with the possibility of being there for a breakout without having too much in if there is a breakdown.