As you can see we have a nice number of touches to the lower trendline and this gives me confidence that this will act as a support line for price to retrace upwards within the channel.
A good setup is to wait for the indicies markets to open next week (depending on your brokers trading hours) and place a small trade long setup with stop below the lower trendline. The midpoint in the channel is a good profit target and coincides with some resistance.
A good setup is to wait for the indicies markets to open next week (depending on your brokers trading hours) and place a small trade long setup with stop below the lower trendline. The midpoint in the channel is a good profit target and coincides with some resistance.
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