I don't see this view presented much. Finding support within parallel channel (very wide one). Coinciding with VWAP line. RSI itching to breakout. Still have descending trendline to deal with. Needing buy volume.
Anchored VWAP does not appear to be a go to indicator, however, reactions to it are more telling then your standard moving average indicator. So far, price is finding support here. Time will tell.
Been forming this massive C&H since 2011. In 2011-12 it traded in a box before ultimately failing. It's looking similar currently, except it looks more like a descending triangle. Finally a CH breakout or another decade long repeat? Comments please.
This is a pattern that I see. Price contained within parallel channel. Retracement point C is .618 of A-B. E is .618 of C-D. Recent price is making lower lows with stoch double bottom which should be a bullish reversal divergence?? Possible bullish setup? Please interpret.
