Hmm, this is assuming we break the TL. What happens if we bounce from it?
we should not stay in this channel because the last move fell short of the upper line... there may be a shallow bounce off the bottom TL which is happening now, this will be the final move before the breakdown , it will soon turn and breakdown before testing fridays high
most of the channel breakdowns come after the peak that falls short off the top TL
for example RUT2K 4 year weekly channel... that index will eventually crater something like %20 %30
shorted ES btw 1474.25-1478.5 for a swing trade ... looking for a minimum 50 handles
Edited by A-ha, 27 August 2007 - 01:48 PM.