Breaks Channel

Went long today on channel backtest after breaking. Target is dashed green line. $EURUSD $DXY $TLT $GLD

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DXY breaks similar channel to the downside and backtests this morning after all US data released.

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1.3450 Target for now.

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GU 4HR Renko band finally goes positive this week after remaining red the entire way down. s3.amazonaws.com/tra...shots/y/YuIGG4IP.png

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Finally goes green ***

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Daily (and 4HR honestly) is still bearish so this is * most likely * going to be a corrective wave considering the length of the down move since the top.

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Coming up on first major target here at CAM Month R3. Channeling VERY nicely just like the big down move from the top.

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The channel it is traveling is is just the linear regression tool used from the current low to yesterday's high. Looks like it marked a big pullback, along with the previous month's (May) closing Month VWAP (the horizontal yellow dots).

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There may be some kind of Brexit related talks underway.

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Backtesting CAM Week R3 and now testing CAM Daily S4... I may try another long again as long as this channel holds.

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Closed that knife catch back at yesterday's close 1.3414. Just a classic mean reversion trade off CAM S4... Since the high today was beyond CAM R4 GU basically exhibited well beyond 100% of the daily ATR value. The odds that it would keep going down were small.

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Another retest on CAM S4... back in long looks like this is a premature retest of the main channel.

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Now two back to back S4 to R3 CAM trades... HOT

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As I feared... yesterday printed a large doji candle right on the 20 Day SMA... we moved beneath that candle low today. Possible backtest of the channel underway for further downside.