Price has continued to behave as it should within our channel. Now that we have hit the blue line above the bottom channel line, two things are more likely to happen. If they decide to keep this channel in place, we can expect a deep retracement back up to the top blue line. 80% of price action happens between these two blue lines. That way they can keep the channel intact. They can also decide to close outside the channel... below the black channel line. If this happens, then the channel would have been invalided. Then they have to start forming another channel. For now, I am out of the trade and wait to see what happens next.