Hourly chart formed a flag which had a false break out and stayed in a flag. There is fairly strong resistance/support lines forming a channel inside the flag. I would be willing to risk a trade on a strong break either side of the channel or pennant depending on how the chart develops. I see these to be short term trades with very tight stops due to the current market climate and don't want to be in a trade if it returns to the channel.
These trades are risky assess your own risk, place stop-losses and be confident.
Trade active
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Trade triggered at $5833.5, bears didn't let it escape the $5750 region for long though and the stop for part of my position was hit at $5775
Second part of my position has stop-loss set at $5700 which has held so far. I will monitor closely if it gets close to the 6k mark and re-assess a possible target.
Comment
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Trade closed: stop reached
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Trade closed at second stop. Heading back towards the support at $5500, lets see how strong it is.