It's not a bird. It's not a plane!
Updated
It's a channel.
Nobody really knows for sure why channels develop. There are loads of theories. I'm not interested.
A channel is usually discovered late, obviously because the channel is evolving and then you see it. Unbelievable as it is, it is there.
So what do you do. Well, I don't give advice. What I do is understand that there may be limited opportunity to exploit. I say limited because when late in the game, price can break up out of the channel or down out of the channel. That means that if price approaches either end of the channel, it is a critical time.
All one can do is take the loss! It's called a stop loss.
Channels also do strange things like break out and then go madly the other way. If everybody had a magic formula how to work them, everybody would be zillionaires. It ain' t happening!
But there is still money to be made by following microtrends. That's where you follow small trends from 3 min to 15 min. These can take days to play out.
For newcomers it's not a good idea to work blindly in a channel. Find other indicators to assist.
Experience is also an important thing. As I always say blowing up 10 Tradingview paper trading accounts is far better than blowing up one live account. Get the safe experience almost totally for FREE!
Nobody really knows for sure why channels develop. There are loads of theories. I'm not interested.
A channel is usually discovered late, obviously because the channel is evolving and then you see it. Unbelievable as it is, it is there.
So what do you do. Well, I don't give advice. What I do is understand that there may be limited opportunity to exploit. I say limited because when late in the game, price can break up out of the channel or down out of the channel. That means that if price approaches either end of the channel, it is a critical time.
All one can do is take the loss! It's called a stop loss.
Channels also do strange things like break out and then go madly the other way. If everybody had a magic formula how to work them, everybody would be zillionaires. It ain' t happening!
But there is still money to be made by following microtrends. That's where you follow small trends from 3 min to 15 min. These can take days to play out.
For newcomers it's not a good idea to work blindly in a channel. Find other indicators to assist.
Experience is also an important thing. As I always say blowing up 10 Tradingview paper trading accounts is far better than blowing up one live account. Get the safe experience almost totally for FREE!
Note
The bird fell! 😂 Note
The DJI has collapsed 300 points in weekend trading (not available on Tradingview). This is not a good sign. That sort of plunge on the weekend was only seen early in 2020, when the bubble popped. No predictions - but his could get very ugly.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
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