Strategy: -------------------------- Trend continuation as price broke out of the parallel channel shown on the chart.
Description: -------------------------- We have been seeing previous down trend coming to stop at least for the time being. If we look into 4H, the price is making higher lows & highs, forming short-term up trend. Since price has broken out of it's trend resistance, we now have a solid reasoning behind taking long position. Price should continue to move up per Dow's theory.