I'm looking at this as a potential false breakout due to the fact that after trying to rally above the highs of our channel, we've returned and passed it's midway mark. Now I've never tested this personally as I'm not much of a breakout trader but trading legend Linda Raschke warns to be aware of this.
if this is indeed a false breakout then a rally higher would give us 2618 opportunity competing at the same level as the left shoulder of a pattern. Giving us to reversal patterns at the same level.
Seems interesting to me.
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