Trade Ascending Parallel Channel With 3 Points + Pivot Point
Trade Ascending Parallel Channel With 3 Points + Pivot Point Indicator
Connect your three points using the parallel channel. First, connect two points which are your higher lows. Next, connect the third point which is the swing high. The swing high is the higher high.
In this example, a pin bar formed at the higher low. Pin Bar wick touches pivot point level and channel support level. Volume Indicator is "green" and pin bar is "white." Conditions are great to enter the market at pin bar closing price.
Connect your three points using the parallel channel. First, connect two points which are your higher lows. Next, connect the third point which is the swing high. The swing high is the higher high.
In this example, a pin bar formed at the higher low. Pin Bar wick touches pivot point level and channel support level. Volume Indicator is "green" and pin bar is "white." Conditions are great to enter the market at pin bar closing price.