I am waiting for a break and close of the channel on the 15min chart, I will then enter buy or sell depending on which way it breaks and closes.
My take profits will be at the fib levels.
After yesterday’s successful breakout of the channel gold had rocketed, I added fib levels to my chart as I see this climbing back to 1600.
I’ll be entering at the break of levels and at the rebounds today.
Good luck.
As you can see on the 15 min chart it is respecting the channel.
I have been scalping between the channels using the bollingers, currently waiting to go long or short depending on the break of the channel.
Yesterday I used this strategy with 1 hour charts and it played out perfectly.
