We have identified a rising parallel channel that has multiple tests. Along with an inner channel/trend line.
Look to take a long up to the inner channel line (blue on chart), we then would expect it either to respect the trend line and move lower or break upwards to pervious highs/upper channel line.
Look to take a long up to the inner channel line (blue on chart), we then would expect it either to respect the trend line and move lower or break upwards to pervious highs/upper channel line.
Trade closed: target reached
We say price move towards inner channel and then move back down to lower channel line
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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.