DislikedI don't want to get away too much from what you do SP, because like I said previously it seems we view the market similarly, but I look for "stacks". There is a large stack in the area where it turned. I count 4 there now, I believe 3 were present when your trade was validated. 2 of the 3 were potentially more important than the other. In addition to the 3-4 there is another placed within 15 pips to add more order support. This is not my attempt to invalidate the entry to the south either, but only to expand further on my previous statement to...Ignored
So I'm not suggesting price bounced because 'it hit a channel line' but that price bounced because major players use channel lines. Also lets not forget that not all forex trading is speculative. A lot of multi-nationals and national banks need currency at certain times and so to get it at a good price they might see a 5day upwards trend and decide to buy on a retrace to the bottom of the acceding channel line. I might be misunderstanding the mechanics there but that's a side point. It's very easy to overlook channels when seeing every significant level as horizontal.