SRS Trade Follow Up

Yesterday I highlighted one of my theoretical favorite trades, SRS, which finally seems to be moving (you can see the idea by clicking on the link to the post)

 SRS is at the level that I called "the first hurdle" yesterday.

 As you can see, the short term 3C has been in line with the trend or confirmation of the trend.

Since we are at a resistance area, it wouldn't surprise me to see a little pullback, since 3C is not negative, I would expect a pullback to hold at the red square.

The 60 min Trend Channel which I thought would work as a decent stop on the initial swing move should allow for a consolidation, if you are taken out on a Trend Channel stop, you will at least have a break even trade. Should SRS breakout relatively soon, we should look at widening this stop to allow for future consolidations.