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Bull Channel, which is a weaker bull trend and it has at least a couple higher lows and higher highs | Bull Channel, which is a weaker bull trend and it has at least a couple higher lows and higher highs. | ||
==Broad Bull Channel== | |||
*Often contain trading ranges separated by brief BO ([https://www.papals.live//index.php%3Ftitle=Measuring_Gap Measuring Gap]). | |||
*Most(90%) bars are also in TR. From TR perspective, it often has strong swings<ref>for stop order traders to make money.</ref> and forms channels. Also since it is forming HL and HH, traders know it is also in a trend. | |||
*BBLCH often last several days (2 or 3 days). | |||
*Broad bull channel is usually tight bull channel on higher time frame, if looking to buy and hold, better to just manage the trade on higher time frame chart. This is because traders should only be trading charts with about 100 bars on the screen, but it needs 200+ bars to see the broad bull channel<ref>BTC 45A.</ref>. Since a 5 mins chart only has 81 bars, usually it is not clear to see the BBLCH on a 5 mins chart. Actually BBLCH are much more common on hourly, daily, weekly and monthly charts. | |||
*Usually need 3 legs up and 3 legs down to tell market is in BBLCH. | |||
*Sometime hard to tell it is in TR or in broad channel | |||
*Price will fall far enough for stop order bears to make money, vice versa. | |||
*When a BBLCH is on 5 mins chart within one day, it is usually a wedge top or a trending TR day. | |||
*Most would trade as a trending TR day, bull BO from bottom TR to upper TR were brief. | |||
==Key features of BBLCH== | |||
*'''Legs up and down lasting mostly 5 to 10 or more bars'''. Some time 10 - 20 bars, usually not enough time to form channel in one day on 5 mins chart. | |||
*'''Size of average leg is at least 3 times bigger than [https://www.papals.live//index.php%3Ftitle=Smallest_Scalp Smallest Scalp]'''. | |||
*'''Size of leg is at least 2 - 3 times the size of average bar.''' | |||
*One or more selloffs strong enough for many traders to see as AIS. (but as in TR, bulls will buy when market is close to AIS) | |||
*'''PBs often falls more than 50% and sometimes 90%, and usually overlaps BO point.''' No gaps means bears can make money in bull trend by betting BO will soon reverse enough for scalp, for e.g. selling prior high and scale in higher. | |||
*'''Bulls and bears can make money using stop entries.''' | |||
[[File:Broad bull channel.png|none|thumb|660x660px|Broad bull channel|link=https://www.papals.live//index.php%3Ftitle=File:Broad_bull_channel.png]] | |||
==Usually a wedge top on 5mins chart if within a day== | |||
[[File:Usually a wedge top on 5 mins chart.png|none|thumb|659x659px|Usually a wedge top on 5 mins chart|link=https://www.papals.live//index.php%3Ftitle=File:Usually_a_wedge_top_on_5_mins_chart.png]] | |||
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