TRADING CHANNELS PART2💰
Please read my first educational post about how to trade channels😉
I have mentioned that you should always book profit at the top of the channel. However, I also stated that you should keep 10% of your position in case price won’t stop there and continue to rise.
These 10% of your position sometimes may give you really huge profits 💰💰💰
So this is exactly the case. You can see that $LINK price breaks resistance level and now at around ~$17.8 ✅
Now it’s time to move stop loss or use trailing stop loss in order to follow uptrend 📈 because accumulation took almost three months 🤔
Possible scenario
Link will do retest of the previous resistance level at ~$17.4 and continue to rise up to $21🚀
Have you ever traded channels? Share your experience in the comments below 👇🏻
