My last video focused on trading channels (sideways trading action) from the previous wave. Anytime we see resistance being fought, or support for that matter, we can usually see a sideways action thereafter. Some people like to call this "knocking on the ceiling" or else "knocking on the floor" .
These types of movements and price action are typically considered to be strong areas of support and resistance. Interestingly enough, they are often areas which are not passed with ease, and once they have been passed upward or downward; they cause the price action to accelerate afterwards.
Here I have shown a few areas of price action which were cited in my last video. This timeframe gives us an idea of what we are up against. Feel free to click the "share" button, and choose "make it mine"
I'd love to see you draw out what you think the outcome will be, or if you think there is another trend more important than the sideways channels I have drawn.
Best of luck traders!
These types of movements and price action are typically considered to be strong areas of support and resistance. Interestingly enough, they are often areas which are not passed with ease, and once they have been passed upward or downward; they cause the price action to accelerate afterwards.
Here I have shown a few areas of price action which were cited in my last video. This timeframe gives us an idea of what we are up against. Feel free to click the "share" button, and choose "make it mine"
I'd love to see you draw out what you think the outcome will be, or if you think there is another trend more important than the sideways channels I have drawn.
Best of luck traders!
