101 channel's target, if we only bearishly break out
Updated
Simple charting.
First target is usually
the last point price
touched the Trend L.
Second target it the
pullback = width of
the channel
First target is usually
the last point price
touched the Trend L.
Second target it the
pullback = width of
the channel
Comment
We are still below the channel, 2ed day, possible A/ Retest of broken line, then tank more.
B/ Bears trap and we bounce back into the channel.
Comment
Beautiful false break out "Bears trap", we need a confirmation that this is a false break out three days inside the channel will due. Never now, we might go down again !!!Comment
According to John Murphy's Technical book of analysis, we need another day inside the channel " 3 day up or down" to confirm that was a false bearish break out of
the channel and we are back in bull mode. Therefore, today is the day according
to him do confirm bullishness or bearishness.
Comment
Well, we got our third day inside the channel as Murphy's book. This is a legitimate bull move.
Comment
This March's channel is still strong and getting stronger by the day + M2 is getting fatter for sure no updates so far for it.Comment
Now is probably our fourth touch down of the trend, it actually makes it stronger trend line.Comment
Still holding .
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