Why use parallel channel, WCEHB
Among other trend lines, my favourite will be Parallel Channel, as it help me to determine the trends, support and resistance.
Drawed this parallel channel on 27/7, when price was reject on that day.
And it price rebound without the channel and now it seems reject at the top (0715), again. What next? Price may pullback. Whether it can rebound within the next support line, market will tell us.
Again, it won't be the best trendline, but at least it suit my trading style.
Won't have best strategy that suit all traders / investors. At least, try and find which one suit self most.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
Drawed this parallel channel on 27/7, when price was reject on that day.
And it price rebound without the channel and now it seems reject at the top (0715), again. What next? Price may pullback. Whether it can rebound within the next support line, market will tell us.
Again, it won't be the best trendline, but at least it suit my trading style.
Won't have best strategy that suit all traders / investors. At least, try and find which one suit self most.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
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