How to trade parallel channel live ?
price of gold are rising inside a parallel channel after double bottom,
price testing upper and lower trend line of channel ( trader selling at upper trend line and buying at lower trend line )
it can't trade forever inside a channel one day it has to break it.
resistance
if price reverse right from here at 1845 or if it breaks it than we have upper trend line and 1881 our next resistance
support
if price doesn't break 1845 resistance than we have lower trend line than 38% and 50% retracement of this trend at 1781 and 1761 respectively
visually everything is explained in this post whether price goes up or down, how trader can response to it
price testing upper and lower trend line of channel ( trader selling at upper trend line and buying at lower trend line )
it can't trade forever inside a channel one day it has to break it.
resistance
if price reverse right from here at 1845 or if it breaks it than we have upper trend line and 1881 our next resistance
support
if price doesn't break 1845 resistance than we have lower trend line than 38% and 50% retracement of this trend at 1781 and 1761 respectively
visually everything is explained in this post whether price goes up or down, how trader can response to it
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Elliott wave count
