This technique can be used on the Donchian channel (above), Keltner , or Bollinger bands .
1) Trending phase where price "walks" one side of the channel
2) Retest of the opposite side of the channel. If you like oscillators, they'll show a new momentum high here.
3) Failure to make new extremes in the trend direction
4) Enter on a cross of the basis (mid point of the channel) or re-touch of the channel. If you like oscillators, they'll give you a crossover entry here.
The difficulty is in #3, the right shoulder. This is a deep shoulder. Oftentimes, price doesn't move past the basis before retesting the channel wall.
1) Trending phase where price "walks" one side of the channel
2) Retest of the opposite side of the channel. If you like oscillators, they'll show a new momentum high here.
3) Failure to make new extremes in the trend direction
4) Enter on a cross of the basis (mid point of the channel) or re-touch of the channel. If you like oscillators, they'll give you a crossover entry here.
The difficulty is in #3, the right shoulder. This is a deep shoulder. Oftentimes, price doesn't move past the basis before retesting the channel wall.
Nota
Trade is almost complete. It's now a clear head and shoulders pattern that we were able to identify mechanically. Mechanical identification saves a lot of time and energy.Trade chiuso: obiettivo raggiunto
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.