Channel down (bearish)
CURRENT CONFIDENCE = 31%
BREAKOUT (ENTRY) PRICE = 0.007453 GBP
TARGET (EXIT) PRICE = 0.007401 GBP
DISTANCE TO TARGET PRICE = 1.06% (7.9 pips)
Tickeron AI shows that the Channel Down pattern shows a clearly defined downtrend and describes the behavior of the price contained between downward sloping parallel lines. Lower lows and lower highs characterize this price pattern. This pattern is created via a lower trendline connecting the swing lows (1, 3, 5), and an upper channel line that joins the swing highs (2, 4, 6).
A breakdown below a descending channel’s resistance line points to a continuation of the decline momentum, while a break out above the channel’s resistance line can show a possible trend change.
BREAKOUT (ENTRY) PRICE = 0.007453 GBP
TARGET (EXIT) PRICE = 0.007401 GBP
DISTANCE TO TARGET PRICE = 1.06% (7.9 pips)
Tickeron AI shows that the Channel Down pattern shows a clearly defined downtrend and describes the behavior of the price contained between downward sloping parallel lines. Lower lows and lower highs characterize this price pattern. This pattern is created via a lower trendline connecting the swing lows (1, 3, 5), and an upper channel line that joins the swing highs (2, 4, 6).
A breakdown below a descending channel’s resistance line points to a continuation of the decline momentum, while a break out above the channel’s resistance line can show a possible trend change.
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