Wave-Trader
Long

Buy setup in the channel

FX:EURCHF   Euro Fx/Swiss Franc
700 3 26
Buy setup in the channel
Comment: Reversal pattern under formation
snapshot
Comment:
snapshot
break back in very strongly
Comment:
EURCHF Descending channel
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Waiting for today's close before making any decision, but it's at current price becoming a sell signal. Usually a trend break is signaling slower trend than the trend it broke out from as a started. Small jumps around the broken trendline signals added resistance. I tend to look at bollinger bands and candlestick patterns to judge the strength of the new trend. What do you judge the trend breakouts from wavetrader? and you use broken channel's depth as a tp level usually, count waves or what?:)
Reply
ok while price touches these trend lines support or resistance many patterns will create like double bottom or top and some triangle pattern some consolidation pattern then only they will create trend so where should be our entry
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