typical false break down - thats why im not coming of the school of the "buy or sell" the breakout. We see in the chart and hidden div going so. its better to short the extension price close half the position on the line and set the rest with Sl than wait a "breakout theory" to trade. In my humble opinion (imho)
Agree with your comments regarding 'breakout theory'. Waiting for "confirmation" can work with stocks, but with FX false breakouts and price action breakdowns seem to be the norm. I like scaling into positions to allow flexibility to make adjustments within the trade.