Let's recall my previous TA ideas and moređđ»đđ»đđ»
Today we are talking about channels. Come onđȘđ»
Technical analysis defines a âchannelâ as a corridor in which a price chart moves limited by the support line below and the resistance line above.
There are three types of channels:
đbullish channel
đbearish channel
đsideway or range (flat, trendless)
The channel breaks, when the price breaks through either support or resistance.
Breaking resistance on the bull channel is a good signal to buy. For a bear channel the opposite is true.
With the side channel, the signal is less strong. If we break through support on the bullish channel and resistance on the bearish, we get a weak sell / buy signal (it is better to get confirmation from other indicators).
In addition, you can play inside the channel, observing two rules:
âthe longer the price moves in the channel, the more likely it is to exit it;
âplay better towards the main trend.
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