I feel like talking about position and stop loss management this weekend, and a 1 day breakout is a little too little information to do a great deal with; so I drew a bunch of pink lines on your chart. These correspond mostly with little swing lows during the rally. These are the sorts of points which I would choose to hide a stop loss behind as I trailed price upwards.
It looks like a descending triangle breakout so I would target the top, but given that this first burst should give rise to a short covering rally, who knows where that will go.
