Its now time to see what happend next; i've done some drawing with my crayons - LOL
We can see that the 'X' marks the three touches of the bottom channel.
The red rectangle obviuosly marks the range and the blue line marks downward resitance, whilst the black line is now acting as support in a rising market (s-T).
Ok the important thing now...'is where to now???'. well as you can see she has 'popped' the range and may infact continue on her merry way or fall back into the range.
Point to note, XJO re-entered the up-ward channel and broke the top of the channel and the 'range' all in one move...this seemed like a really impulsive move and will most likely lead to a week in the 'green'.
We had consolidation now my tip is 'long' with trailing stops.....
safe tarding
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