I'm beginning to think that this major channel resistance may be so strong that a break of the more minor channel support around the major channel's resistance (around 86.952) will send this pair tumbling like a rock.
If we reach this resistance while maintaining the minor channel I will set up the short entry as shown with an R:R of 12.24 down to the 100% fib intersecting with the major channel's support. This task seems much less daunting with the view on the daily charts.
If this works out I'll be securing profits along with way with a wide trailing stop.
Look for this action to take place mid next week (April 5th/6th) for entry.
If we reach this resistance while maintaining the minor channel I will set up the short entry as shown with an R:R of 12.24 down to the 100% fib intersecting with the major channel's support. This task seems much less daunting with the view on the daily charts.
If this works out I'll be securing profits along with way with a wide trailing stop.
Look for this action to take place mid next week (April 5th/6th) for entry.
