The Basic Forex Technical Analysis:
Narrow Sideways Channel and entry strategy thinking along the lines that the market will eventually breakout.
Channel Breaks = Bear Market
Price Action held under 200 MA = Bear
Declining Channel Identified
Current Price Action at Horizontal Support.
NB and some Forex tips for the note book:
The Daily is the Driver.
The Market Breaking out of the channel will have an anticipated target of the length of the original channel formed before breaking out.
50% Retracement Rule will tend apply to this strategy and pattern.
Mid time frame to correlate to the daily. M15 and below for entry/exit.
Follow the Trading Rules set out in the …