When I reflected on my previous idea I think I drew the channel a bit too steeply. I now connected the low to the most recent $0.215 drop and found this more conservative ascending parallel channel.
This channel gives us a bit more time to monetize an upwards move as the volatility has reduced a little bit over the last few days.
When trading an oscillating price between the support and resistance trendlines of an ascending channel, you would want to enter a long position near the bottom of the channel for maximum risk reward.
Since the trend is bullish in such a channel, we can enter the trade with a bullish bias, making it more favorable to long the supports than to short the resistances.
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- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
This channel gives us a bit more time to monetize an upwards move as the volatility has reduced a little bit over the last few days.
When trading an oscillating price between the support and resistance trendlines of an ascending channel, you would want to enter a long position near the bottom of the channel for maximum risk reward.
Since the trend is bullish in such a channel, we can enter the trade with a bullish bias, making it more favorable to long the supports than to short the resistances.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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(bắt đầu từ tháng 2 - 2023)
