95% of beginners don't understand why patterns don't work as it shown in the books. That's why losses, stress, and worries appear. The point is that only practice and personal experience will help you understand how to use it correctly.
I will give you a few secrets how to trade in the channel successfully: 1. after testing the borders of the channel, wait for a false breakout or liquidity collection. At point 3 and point 5, there was a large collection of liquidity, after which you can open a LONG. You can see the result by yourself (+28%). 2. Pay attention to the key levels and value zones - combine instruments. 2.1. At point 4 there is a large value zone of $46-47k, which became a resistance. Combined with the upper boundary of the channel, it was a strong resistance zone, which means price is sure to bounce off. We saw a 20% drop! 2.2. At point 5, there was a large value zone of $37.5-40k from which the price also bounced off. The lower boundary of the channel+value zone was a major support for price. Not bad? 3. The middle of the channel. On the chart, we can see that it is often tested as resistance/support. An additional opportunity to open a trade.
Be crafty, use trading tools in combination with each other and you will notice results immediately.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.