Pretty much, though I wouldn't have so many lines. If one had shorted the test of 40, and English and French traders would have had ample opportunity to do so, he would be out by now via the SLA, regardless of how much room he was willing to give the trade. Whether or not he would go long after the break of 31 would be up to him.
The elephant in the room, though, is 40. There is always the possibility that we might head toward the upper limit of the weekly trend channel. One can't allow bias to override the "system".