I don't see the channel. Even before today, the channel broke on 10/7 Now with the Fibs... Here we have the same chart, SPY, and a target.
Yesterdays OVB/ Bully Engulfing Bar combined with the always undeniable IHS on the Daily had a Rippity Rip --- Gap n Go North written all over it for this morning! Took my meager profit yesterday after being up substantially... left quite a few Shekels on the table from previous swing lo... This Vol is a license to print presidents & the Life Blood to us Gunslingers! -Good Trading
Yea, this is a definitive trendline break. You were smart to lock in and kill the trade. I honestly thought you were going all the way to the vault with this one.
Nobody ever loses in the fantasy land of the net . I called out the mountains of wrong way bears many times . Yet all safely out .