Some people have put their SL a few pips over the broken channel and now they are out.
The price will certainly continue this direction, although there is nothing assured of course.
The question is: why a bullish setup in a supposed bearish situation? An underneath channel break is bearish right?
Wrong. A meta-analysis is needed. For example, a double top pattern is only valid when, Already having happened the double peak, a deeper one appears that bounces all people off the market. The pattern is confirmed in the peak that breaks the two peaks, before going in the right direction.
The price will certainly continue this direction, although there is nothing assured of course.
The question is: why a bullish setup in a supposed bearish situation? An underneath channel break is bearish right?
Wrong. A meta-analysis is needed. For example, a double top pattern is only valid when, Already having happened the double peak, a deeper one appears that bounces all people off the market. The pattern is confirmed in the peak that breaks the two peaks, before going in the right direction.