I say chance, because we need the price to bounce off that resistance first. It is a strong resistance, so it should hold. If it does not hold, be prepared to jump on an insane breakout! I am sure there are positions above that resistance, just waiting to be ordered. Talking of long positions.
So, either way, you really should have an eye on this one, as it is about to move.
I would prefer if it moves back down in the channel, but you never know, right?!
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Tell you something, I see the pullback has happened, so I go in with a small position.
Even though the short opportunity is gone, we have a good entry for a breakout.
Good luck and best of trades!
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So, we had a breakout to the top, profits coming in! Good start into the weekend ;-)