We are at the bottom of our channel, which gives potential to buy. However the previous high has formed a , which gives us the possibility that price will exit the current channel.
Buying with a stop below the channel is a good idea.
Switching to sell if your buy stop is hit, or we close outside of the channel at any point is also a good idea.
Red arrows do not predict exact price or time. Only direction. I advice you to manually exit the trades at key structure points if you are unsure of where to place TP.