PARALLEL CHANNEL (equidistant channel)
The equidistant channel has become one of my favorite technical patterns to trade. It’s formed by two parallel levels of support and resistance. The equidistant channel can be bullish (ascending) or bearish (descending) depending on the direction of the trending price action.
The equidistant channel is formed when price action finds support and resistance between two parallel trend lines. Although the name sounds complicated, the term “equidistant” can be translated as, “of equal distance”. This refers to the parallel trend lines that are an equal distance apart from one another. the price remain in the channel until it breaks either a resistant or support.
The equidistant channel is formed when price action finds support and resistance between two parallel trend lines. Although the name sounds complicated, the term “equidistant” can be translated as, “of equal distance”. This refers to the parallel trend lines that are an equal distance apart from one another. the price remain in the channel until it breaks either a resistant or support.
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