101 channel's target, if we only bearishly break out

Simple charting.
First target is usually
the last point price
touched the Trend L.
Second target it the
pullback = width of
the channel

Comentário:

We are still below the channel, 2ed day, possible

A/ Retest of broken line, then tank more.
B/ Bears trap and we bounce back into the channel.

Comentário:

Beautiful false break out "Bears trap", we need a confirmation that this is a false break out three days inside the channel will due. Never now, we might go down again !!!

Comentário:

According to John Murphy's Technical book of analysis, we need another day inside

the channel " 3 day up or down" to confirm that was a false bearish break out of

the channel and we are back in bull mode. Therefore, today is the day according

to him do confirm bullishness or bearishness.

Comentário:

Well, we got our third day inside the channel as Murphy's book. This is a legitimate

bull move.

Comentário:

This March's channel is still strong and getting stronger by the day + M2 is getting fatter for sure no updates so far for it.

Comentário:

Now is probably our fourth touch down of the trend, it actually makes it stronger trend line.

Comentário:

Still holding .