After a year of ranging in a parallel channel, we have finally broken out. We should expect a re-test of the top trend line where we can hold our short and hope it enters back into the channel for a very nice downside move, or wait for further confirmation that we have a new trend forming.
Trade active:
TP 1 Hit, half the trade running in hopes of entering back into the channel.
Shooting for the 200 EMA as first support
Shooting for the 200 EMA as first support