lowtrade

[waycokid]

We are looking to confirm a channel for a lower risk entry.

How does a channel confirm? By creating a pattern, and then repeating it 3 times.

Once we see the pattern hit a channel top and bottom 3 times we have confirmation.

Entry on 3rd bottom.

Regarding the stall channel after run/retrace: start counting the stall channel starts from the bottom of the retrace.

P.S. I have seen charts where the bottom of that retrace may not be the bottom of the channel either - so keep that in mind.

Cheers,
Waycokid