In yesterday's failed prediction we saw how the currency pair drilled the secondary channel without major problem. It is normal in trading, sometimes you win and another you lose. You have to assume that, and learn from mistakes. Although this is more easily assimilated when we have good risk management, both the distance of the stops and the size of our position. When our trading plan is optimal, it is normal to recover what was lost in one or two days at the most. And sometimes, after our loss we get to see a horizon that escaped us, or in this case, a primary channel of L / P, much more reliable.
In this case, the upper line is a minimum of the last four and a half years, reached in the first quarter of 2013. The lower line is the minimum reached in this year 2017, which form a channel in the shape of an ascending wedge.
Once yesterday the secondary channel was overcomed without major problem, it seems clear that the upper limit of the primary channel will be sought.
Therefore we would use a correction throughout the week, to enter long in search of that ceiling. Our entry order would be at 1.53400, with stop loss at 1.54000; take profit 1,54600. Good trading