This is my trading journal, not a trade recommendation. Idea presented only for educational purposes for me and others who want to benefit from my experience.
1. As long as prices move is contained by deceleration channel( parallel channel ), the price action is countertrend, and once complete, it will be more than fully retraced.
2. The upper boundary line of base channel supports the fourth wave at either the upper boundary line, midline, or lower boundary line.
3. As soon as wave 4 is in place and price broken above the upper boundary line of deceleration channel, draw the final channel, the Terminating channel to identify resistance for wave 5. That's how the channeling technique works.
By Jeffry Kennedy
DISCLAIMER:
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.
1. As long as prices move is contained by deceleration channel( parallel channel ), the price action is countertrend, and once complete, it will be more than fully retraced.
2. The upper boundary line of base channel supports the fourth wave at either the upper boundary line, midline, or lower boundary line.
3. As soon as wave 4 is in place and price broken above the upper boundary line of deceleration channel, draw the final channel, the Terminating channel to identify resistance for wave 5. That's how the channeling technique works.
By Jeffry Kennedy
DISCLAIMER:
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.
Comment:
Order cancelled