very interesting scenario here. rose alot faster then i expected ( i may get stopped out haha). I entered short with 1/3rd of a position at 1.2855 and and the other 2/3rds at 1.2880. Both channels were broken to the upside however because of the fast ascend, an equally fast descend should occur to the lower wall of the current uptrend around 1.2775. THe only question remaining is, has 1.2850 become support or is this a false break up. In any case, I feel confident in my position with the potential of at least 50pips down even though I may get stopped out on this potential break up (and for it to not be an extension as i think it is). Time will tell ..good pippin all
Edit: closed the 2/3rds from 1.2880 for a 15 pip profit...too risky at this time so im just leaving the 1/3rd in...for the moment this was just an extension of the upper walls of both channels as pa closed on the hourly below both breakout points.
Edit: closed the 2/3rds from 1.2880 for a 15 pip profit...too risky at this time so im just leaving the 1/3rd in...for the moment this was just an extension of the upper walls of both channels as pa closed on the hourly below both breakout points.
Different opinions highly valued, ignorant to slander.