Which ticker has higher chance of moving Upward???
Price action at the lower border of an upward channel has a higher chance of moving upward than price action at the upper border of a downward channel. This is because an upward channel is formed by higher highs and higher lows, which indicates an uptrend. When the price reaches the lower border of the channel, it finds support at a previous level and is more likely to bounce back and continue the uptrend.
On the other hand, a downward channel is formed by lower highs and lower lows, which indicates a downtrend. When the price reaches the upper border of the channel, it encounters resistance at a previous level and is more likely to be rejected and continue the downtrend.
Of course, there is no guarantee that price will always move in the expected direction. However, the technical analysis principles described above suggest that price action at the lower border of an upward channel has a higher chance of moving upward than price action at the upper border of a downward channel.
It is important to note that price action is just one factor to consider when making trading decisions. Other factors, such as overall market conditions and fundamental analysis, should also be considered.
On the other hand, a downward channel is formed by lower highs and lower lows, which indicates a downtrend. When the price reaches the upper border of the channel, it encounters resistance at a previous level and is more likely to be rejected and continue the downtrend.
Of course, there is no guarantee that price will always move in the expected direction. However, the technical analysis principles described above suggest that price action at the lower border of an upward channel has a higher chance of moving upward than price action at the upper border of a downward channel.
It is important to note that price action is just one factor to consider when making trading decisions. Other factors, such as overall market conditions and fundamental analysis, should also be considered.
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After 1 week
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Time to ask the same question again