Intraday Price Imbalance trading strategy
Hi Long thanks for reply ive never heard anyone teach candlesticks like you its just beyond me.
but could you explain in a little more detail on the closing and opening of the candlesticks.
As price action traders, we are always looking at our levels.
While there are many levels we’re all very well acquainted with,
Intraday Price Imbalance trading strategy,
Trend channel lines are lines which are drawn in a way that they form a channel.
The lines are drawn along the candlesticks but they are spaced by a certain distance.
The channel lines can be drawn using different methods like from the opening of a certain candlestick to the closing of another
candlestick or using any other criteria as the trader would wish to.
Mainly, the trend channel lines are used to identify a region of action.
By a region of action it means a time when something should take place. For example,
the trader may set the top channel line to be a signal for placing an order while the lower channel line can be for closing the order
either by a stop loss or a take profit.
The use of the trend channel lines will however, depend on the understanding of the type(s) of the formed candlesticks since different
candlesticks shows different market behaviour