Hey all,
I didnt post that channel chart for Christmas decorations, people. We got a breakout complete with Morning star, and a test of the back of the channel for support. It was a TEXTBOOK CHANNEL BREAKOUT. If anyone would have created this on one of their charts, they would have caught the whole move. Now I know you could not forsee 150 pips on a 15 minute chart, but sometimes they can give you good direction. It doesn't hurt to check it out. I am posting this for the newbys since I was a newby once and a lot of people helped me out, and this is one of the lessons of the ranging market.
Happy Trading.
Jim
I didnt post that channel chart for Christmas decorations, people. We got a breakout complete with Morning star, and a test of the back of the channel for support. It was a TEXTBOOK CHANNEL BREAKOUT. If anyone would have created this on one of their charts, they would have caught the whole move. Now I know you could not forsee 150 pips on a 15 minute chart, but sometimes they can give you good direction. It doesn't hurt to check it out. I am posting this for the newbys since I was a newby once and a lot of people helped me out, and this is one of the lessons of the ranging market.
Happy Trading.
Jim