Disliked{quote} We could draw lines like this all day long but they mean little to nothing. They are just lines you have drawn in the sand. Why not like this... {image}Ignored
All those statements are valid from a particular perspective each one.
But as for me, I do know channels can be traded off in a thousand of different ways depending on the price structure..
I think that finished patterns are only reference points and that one should not trade them.
For me, patterns are reference points, I do know that market participants spent a considerable amount of time negotiating these prices, therefore the volume present at these levels (and the liquidity) was important.
After price leaves a range within the TL, that means that participants do not have more interest on that price area.
That there will be more open interest outside it and, if the net position is contrarian to the initial movement, the channel should not hold, since that area was already traded recently and, therefore, low in terms of liquidity.
My 2 pips count.
Good luck with your trade.
PAT
I come from the future.
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