T2W Bot

Staff member
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Parallel channels are one of the most commonly seen patterns in charts. They give many opportunities to profit whether or not the market is trending. Horizontal channels are better known as trading ranges when the market is not trending; rising channels occur when market is trending up and falling channels appear when the market is trending down. Regardless of the market conditions seen, parallel channels can be found in all shapes and sizes.
Trade Recap
During the weeks in mid-June to early July, 2007, S&P 400 MidCap E-mini future has been moving up steadily inside a rising channel, as seen on the 60-minute chart below. Although the MidCap has been moving near the all time high, it has been trading in a large trading range. This parallel shows a smaller movement within that range.
image1.jpg

The parallel channels are identified when the two tops and two bottoms are identified (magenta boxes shown on chart...

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black bear

Guest
1,303 165
I found this approach very simple and effective, the main problem was of my own making ~

I could not believe low risk setups were so easy to identify,

Thanks for all great articles and ideas for newby traders like myself to cut their teeth on without knockin them all out.

Develbis,
hey is,nt that a quality spray gun you can use for life?
 
 
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