Why trade against the trend, and try and fade the momo? Nothing but higher highs and higher lows since Monday pre-market. 55 was the bottom of the channel today, and was also a measured move almost to the tick. Tues high > AH low > AH high > 55ish. Didn't expect 96 today. Volume indicates short covering. But Vol's 80 (back to the top of the channel) was a very good bet. Nice call btw.
The trend is your friend, unless fading is your specialty like ammo.