![](http://www.dukascopy.com/imageserver/img/80e4d0df32381fdd544185e5b0fc01de/500_2/image.jpg)
Looking at the chart above, you will notice that price tried to breakout the downward descending channel but after three successive failed trial, I believe it is targeting the lower channel. I cannot rule out a possible break out of the descending channel which will invalidate the trade.