Channels
Channels are basically 2 parallel TL drawn on the chart, that contain LL and HH of PA's last swings. There are many ways to trade channels.
1. The common use of channels is to trade it as Trend Lines BO or Pullback ( rejection ).
2. Also, when the formed channel is horizontal we can trade it as S/R Lines BO or Pullback ( Rejections ).
3. BO Boxes Channel Trading Strategy
After we found a channel on higher TF we can lower the TF to M30 to find our first BOX. Then we can use it to keep add positions or to move SL until BE.
Also using same technique with boxes, you could of predict the drawn channel forming since beginning. All you have to do is to find first pullback and make a box of it.
Sl would be opposite BOX direction. You can add positions, move SL ( BE ) when it's BO of the BOX, or use Trailing Stop = BOX pips. ( HH-LL ).
From my experience this work better on London's opening and no important news in that day for the pair you trade.
Best Regards,
^^_Lord_Ice_^^
1. The common use of channels is to trade it as Trend Lines BO or Pullback ( rejection ).
2. Also, when the formed channel is horizontal we can trade it as S/R Lines BO or Pullback ( Rejections ).
3. BO Boxes Channel Trading Strategy
After we found a channel on higher TF we can lower the TF to M30 to find our first BOX. Then we can use it to keep add positions or to move SL until BE.
Also using same technique with boxes, you could of predict the drawn channel forming since beginning. All you have to do is to find first pullback and make a box of it.
Sl would be opposite BOX direction. You can add positions, move SL ( BE ) when it's BO of the BOX, or use Trailing Stop = BOX pips. ( HH-LL ).
From my experience this work better on London's opening and no important news in that day for the pair you trade.
Best Regards,
^^_Lord_Ice_^^
1 comments:
Great! It sounds good. Thanks for sharing..
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