Over the last couple of weeks, BLZ has seen some strong gains, increasing more than 300% in value.
Currently, two things are happening at once. For one, BLZ is very near the channel support, potentially bouncing from it soon. Furthermore, the channel support is making a triangle pattern when the ATH is connected with the 08/04 local high.
This trade assumes that BLZ will bounce off the support and see a break out through the triangle resistance.
@reees, I find it distracting. I don't use any indicators apart from the price.
reees
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@FieryTrading, interesting. for me, i feel naked without it. in my limited experience, i've found that I watch volume almost as closely as the price action itself. but i do agree in general that indicators can be distracting, and most are useless 99% of the time. thanks for the response!
FieryTrading
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@reees My pleasure🔥. Every trader should find a way of charting which is most comfortable to him.