Parallel channel update! retest
I try to use as many indicators as I can to experiment and learn from thier comecomes.
Iv been using the parallel channel tool recently and I enjoy how simple but handy it is.
To me, recently we broke down from a upward trending channel (green) and it looked to me as if I slight downtrending channel was beginning to form (orange)
Yesterday we momentary broke back out of the orange channel, perfectly retested the bottom of the green channel and got heavy resistance before re-entering the orange channel (retest and mini fakeout)
See the link post for past related posts and keep an eye out for updates :)
Iv been using the parallel channel tool recently and I enjoy how simple but handy it is.
To me, recently we broke down from a upward trending channel (green) and it looked to me as if I slight downtrending channel was beginning to form (orange)
Yesterday we momentary broke back out of the orange channel, perfectly retested the bottom of the green channel and got heavy resistance before re-entering the orange channel (retest and mini fakeout)
See the link post for past related posts and keep an eye out for updates :)
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