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Am I Looking At A Bullish Price Channel Here?


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Guest Bellini
Posted

Or is it a bullish measured move?

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I've got a bit of a problem understanding and charting the measured move.

Posted

You already have a main supply trendline. It's the blue line at the bottom of the channel. What is of more interest is if price breaks the high red candle on the left of your chart at about 390 if this is indeed a recent high. The confluence of going through what would be considered to be a resistance level at 390, a break out of the upper channel and then past the psychological level of 400 indicates a possible long. Basic technical analysis.

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