I have a similar strategy in place for next week. It may keep the channel but I don't believe it will brake 0.7660 resistance.
streetgainer
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The channel is not as important as the the fib levels, on this. Take a look at all the peaks, they're in line with the fibs. For it to go above 1.0 on the fib level would be a tall order, and that's where sellers are lurking and I doubt they'll be enough buyers way up there. I'm scaling in as it goes up.