If price breaks the channel: Wait for 4-hour candle to close outside of channel. If 4-hour candle closes outside of channel (depending on time of day, see link about Time and Trade Management) wait for the next 4-hour candle to close. If it closes outside of channel, enter trade.
If price come to the top of the channel but refuses to break out. You can think about selling to the bottom of green trendline.
Best Option is to wait and see if it makes a double bottom. The green trendline is the best area for a buy.
If price breaks the green trendline, then wait for 1 or 2, 4-hour candle to close below before it's considered a true break.
I warrant that the information created and published is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Bruce Baines
If price come to the top of the channel but refuses to break out. You can think about selling to the bottom of green trendline.
Best Option is to wait and see if it makes a double bottom. The green trendline is the best area for a buy.
If price breaks the green trendline, then wait for 1 or 2, 4-hour candle to close below before it's considered a true break.
I warrant that the information created and published is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Bruce Baines
