Price Channel Pattern

Price Channel
Price Channel
Excess price indicates the footprints of big investor.
Explanation :
       Ticker      : Indigo
       Time frame  : Daily (31 Aug'21)
       Pattern     : Channel
       Expectation : Breakout/Breakdown (↓ or ↑)
       Reality     : appreciation in price (↑)
       Position    : Enter on breakout or breakdown
                     Go long if breakout
                     Go short if breakdown
       Lesson      : To avoid fakeout risk, wait for re-test
       Ideal entry : Breakout & Retest, 
                     when resistance become support (OR)
                     Breakdown & Retest, 
                     when support become resistance
  1. When a stock fails to touch the either of the line, there is a probability of a breakout on the other side. At zone (A) and zone (B) stock failed to touch support line, this indicates there is a possibility of breakout at resistance.
  2. If a stock gives fakeout then there is a chance of breakout on opposite side.
    fakeout*: breakout + moving back into channel
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