Breaking below 1.34800 - a fake out or true break out

1.34800 is a must hold level for the bulls ,
breaking below it on Wednesday, and
trying to get back above it on Thursday.

and now testing the upper channel of a descending Channel Formation.

its a opportunity to witness this price action and use out entry criteria to enter the trade.

Trade active:

Price action in the 5Min TF does not in agreement with its Volume ,