Price is at channel top.
Trade Options.
Option 1 - Price breakout channel top - wait for daily close above channel top.
Option 2 - Price bounce off channel top - Enter short on candle close below 38.2 fib - TP channel bottom.
Option 3 - Price at channel bottom, A price bounce bullish, B price breaks below channel bottom.
Short trade - Wait for daily close below channel bottom.
Long trade - Wait for bullish candle close off of bullish bounce of channel bottom.
Where would you put your SL and TP on this chart?
Trade Options.
Option 1 - Price breakout channel top - wait for daily close above channel top.
Option 2 - Price bounce off channel top - Enter short on candle close below 38.2 fib - TP channel bottom.
Option 3 - Price at channel bottom, A price bounce bullish, B price breaks below channel bottom.
Short trade - Wait for daily close below channel bottom.
Long trade - Wait for bullish candle close off of bullish bounce of channel bottom.
Where would you put your SL and TP on this chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.