DislikedYou are correct and thanks for your addition.
Many here need to learn higher time frames.
I have provided the weekly channel and daily analysis of it periodically,
I am waiting for the battle of 1600 to end to post the next channel:
please do post.Ignored
I have attached a second picture, with the initial channel I used from around December 2009.
I closed my initial entry positions at around 1697 in August this year, just before the spike occurred to 1920.6. Was expecting a correction to around 1510 - 20 afterwards, but it seems however that the monthly trend line has been tested the 4th time and holds "like a text book trend".
I'm just wondering however if the upper trend line (channel) will hold, considering the fact that correction has not occurred as expected on the downside.
Guess we'll find out around March, for now we'll do what traders do and bank the pips until its time for analysis again.