Channel Analysis (USDCAD)
Using proximal and distal lines to mark channel extremities takes emotion and guess-work out of swing trading! Furthermore, using multiple timeframes allows for more accurate timing and thus more control over risk/reward.
As can be seen here, proximal and distal lines were used to highlight reversal areas on both the top and bottom of the channel. Then, using a smaller timeframe, an area of price-interest was highlighted to get a better understanding of direction.
Outlook: Bullish to 1.37~
Void if price <1.31~
As can be seen here, proximal and distal lines were used to highlight reversal areas on both the top and bottom of the channel. Then, using a smaller timeframe, an area of price-interest was highlighted to get a better understanding of direction.
Outlook: Bullish to 1.37~
Void if price <1.31~
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