Upward / Downward Channel Meet

Feb 4, 2022

Consolidation period hanging on the 1.50 resistance meeting with the previous trend line from the previous lows trend line. This will eventually meet the downward channel line in the coming weeks for a breakout. It is looking like the upward channel has more momentum from repeated touches away from resistance and the downward channel will eventually be broken.

Feb 6, 2022

Trade active

Channel boundary is consolidating upward as predicted, preparing to break the downward channel in the next coming weeks.

Feb 7, 2022

Trade active

Broke lower ceiling channel as predicted, let's see EOW pattern for new bottom out of previous consolidation period.

Feb 10, 2022

Note

If continues to stay above the downward channel, this will become a good indicator for a new floor.