Taken support on 30 minutes time frame.
It's time to move up now if S3 not broken.
targets and support on the chart.
What is Channel Chart Pattern?
Channel Chart pattern is a type of technical analysis in which the price movement is contained between the two parallel trend line and it is very easy to notice this pattern in real charts.
Channels basically work on support and resistance. It consists of the following parts:
1.Upper Trendline: It serves as a resistance in the pattern. It is a straight line and at least have 2 points, the more the better. When the price touches the upper trendline, it can be used as a selling signal.
2.Lower Trendline: It is also a straight line and has at least 2 points, the more the better. It serves as a support in the pattern. When the price touches the lower trendline, it can be used as a buying signal.
targets and support on the chart.
What is Channel Chart Pattern?
Channel Chart pattern is a type of technical analysis in which the price movement is contained between the two parallel trend line and it is very easy to notice this pattern in real charts.
Channels basically work on support and resistance. It consists of the following parts:
1.Upper Trendline: It serves as a resistance in the pattern. It is a straight line and at least have 2 points, the more the better. When the price touches the upper trendline, it can be used as a selling signal.
2.Lower Trendline: It is also a straight line and has at least 2 points, the more the better. It serves as a support in the pattern. When the price touches the lower trendline, it can be used as a buying signal.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.