First trade

First trade today went successfully. The start of Frankfurt/London was pretty boring this morning (maybe because of the time change over there) and price has been stalled around the 1.40 support level. I decided to scalp a little profit this morning on the descending triangle that was forming by shorting the top of the formation and riding it down for about 11 pips profit.

Next, I'll be watching to see how price reacts as we get closer to the end of the channel and if it ever breaks convincingly away from 1.40x. In the meantime, I'm also trying to watch the CHF closely.

EDIT: Got out of the trade too early thinking it wouldn't break consolidation very well. Missed out on some good profit but that's what I get for not believing my own analysis. Now watching the 1.3975x level for retrace and rejection as a place to reenter short.