Beanoil is still in a down trend

After the continuation pattern as detected earlier this week we see that price has formed a descending channel.
Combined with the earlier mentioned short set-up we keep looking at the downside with first target 30.00 where half of the position will be close. Current stop is at entry level and is being trailed down accordingly.

Trade closed: stop reached:

Stop at entry level was hit and we are out. No capital went lost and we live to trade another day.