(By Jeffry Kennedy)
1. As long as prices move is contained by deceleration channel(parallel channel), the price action is countertrend, and once complete, it will be more than fully retraced.
2. The upper boundry line of base channel supports the fourth wave at either the upper boundry line, midline, or lower boundry line.
3. As soon as wave 4 is in place and price broken above the upper boundry line of deceleration channel, draw the final channel, the Terminating channel to identify resistance for wave 5. Thats how the channeling technique works.
DISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
1. As long as prices move is contained by deceleration channel(parallel channel), the price action is countertrend, and once complete, it will be more than fully retraced.
2. The upper boundry line of base channel supports the fourth wave at either the upper boundry line, midline, or lower boundry line.
3. As soon as wave 4 is in place and price broken above the upper boundry line of deceleration channel, draw the final channel, the Terminating channel to identify resistance for wave 5. Thats how the channeling technique works.
DISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
Yorum:
PRICES TAKING SUPPORT AT BASE CHANNEL
Yorum:
Terminating channel drawn
Yorum:
Next week is crucial for stock to go long
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