Trend Channel prediction on EUR - USD,
Dear reader,
Using the support and resistance of previous swing high and lows I made a trend Channel by combining resistance and support trend lines. Now, if the chart pattern continues bouncing of the support and resistance key levels of influence, this could be capitalized on by going short when near resistance level (Top Purple Line) and set a take profit leven near Support level (Bottom Purple Line). Or you could go long when the chart trend reaches the Support level (Bottom Purple Line) and set a take profit level near the Level of resistance ( Top Purple Line). Taking in consideration that this is a prediction and there is no certainty of the formulated outcome of trend movements to manifest itself.
Kind Regards,
Using the support and resistance of previous swing high and lows I made a trend Channel by combining resistance and support trend lines. Now, if the chart pattern continues bouncing of the support and resistance key levels of influence, this could be capitalized on by going short when near resistance level (Top Purple Line) and set a take profit leven near Support level (Bottom Purple Line). Or you could go long when the chart trend reaches the Support level (Bottom Purple Line) and set a take profit level near the Level of resistance ( Top Purple Line). Taking in consideration that this is a prediction and there is no certainty of the formulated outcome of trend movements to manifest itself.
Kind Regards,
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