Sideway Channel Breakout
In this lesson of Module 3, Workshop 7, we will discuss the concept of Sideways Channel Breakout.
You have learned how to recognize the patterns of the dynamic channels and fit each one to the three main categories.
You also mastered updating the dynamic channels, as new swing low and swing high is formed.
If the price breaks the dynamic support of the current sideways pattern, look for the new Swing lows and update the dynamic channel.
The new pattern could show the same Swing highs, but a lower swing low. Which is still another Sideways pattern.
If the price breaks the dynamic resistance of the current sideways pattern, look for the new Swing highs and update the dynamic channel.
The new pattern could show a higher swing high, but the same swing low. Which is still another Sideways pattern.
Hello all traders! In this lesson of Module 3, Workshop 7, we will discuss the concept of Sideways Channel Breakout.
You have learned how to update the Sideways channel breakouts, which often led to another sideways pattern.
You will see here examples of Sideways channel breakouts that lead to the formation of valid uptrend and downtrend patterns
If the price breaks the dynamic resistance line of the current sideways pattern, look for the new Swing highs and update the dynamic channel.
The new pattern could show the higher Swing highs and also higher swing lows.
Which is a new Uptrend pattern.
If the price breaks the dynamic support of the current sideways pattern, look for the new Swing lows and update the dynamic channel.
The new pattern could show lower swing highs and lower swing lows,
which is a new Downtrend pattern.
