We have identified a rising parallel channel that has multiple tests. Along with an inner channel/trend line.
Look to take a long up to the inner channel line (blue on chart), we then would expect it either to respect the trend line and move lower or break upwards to pervious highs/upper channel line.
Look to take a long up to the inner channel line (blue on chart), we then would expect it either to respect the trend line and move lower or break upwards to pervious highs/upper channel line.
Trade closed: target reached:
We say price move towards inner channel and then move back down to lower channel line