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Video of the Day. Just as you need to make a price forecast for an underlying stock before picking an option's strike price, so to do you need to make a forecast of how long it will likely take for your trade to become profitable before picking an option's expiration date.
Also, assess the quickness and depth of the breakout. BUT, if the price pauses at or moves only slightly below the prior low, and then rallies sharply back above the prior low, buy quickly! If the price breaks a long way out of the pattern about one-quarter of the pattern size or more and then moves back into the share day trading strategies slightly, don't trade the false breakout strategy.