1.If you buy or sell on the other side of the channel, you wait for price to
reach the other end of the channel to take profit or exit the trade.
2.Place your stop loss on just outside the channel or just above the high of
the candlestick (for a sell order) or just below the low of the candlestick (for
a buy order) that touched the channel and shows signs of rejection. This
candlestick can also be a reversal candlestick.
3.You may also decide to take half the profits off as price is in the middle of
the channel for a profitable trade.
reach the other end of the channel to take profit or exit the trade.
2.Place your stop loss on just outside the channel or just above the high of
the candlestick (for a sell order) or just below the low of the candlestick (for
a buy order) that touched the channel and shows signs of rejection. This
candlestick can also be a reversal candlestick.
3.You may also decide to take half the profits off as price is in the middle of
the channel for a profitable trade.
