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Trading Rectangle Channel Patterns 5/01/2017 8.45am

Trading Rectangle Channel Patterns (June 2017)

Rectangle channel patterns consist of two parallel trendlines bounding the price-action having multiple pivot points forming at equal highs and equal lows. As price approaches the lower trendline, bullish sentiment sets to push the price up towards the upper trendline, and when the price reaches the upper trendline, bearish sentiment tends to push the price down towards the lower trendline, thus creating a tug-of-war. Each of these thrusts must form at least two key pivot points on the upper and lower trendlines to create a rectangle channel. This bounded range becomes a consolidation area, where traders are indecisive and may not take trend-based trades.

Please continue to read at Modern Trader Magazine (June. 2017)

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