How to trade Bullish Momentum
Here's a tutorial on how to trade bullish channel using price action.
So when we see price ranging in a channel, we suppose to trade as per breakout or wait for retest entry. Here in BITCOIN when price broke down channel support we'll wait for retest and when we don't see retest and simply price reverse here we'll plan for bullish entry and call it as bullish channel. As soon as price breaks out the channel resistance with a strong candle we'll entry in trade by keeping the stop loss as recent swing low and channel high as our take profit.
So when we see price ranging in a channel, we suppose to trade as per breakout or wait for retest entry. Here in BITCOIN when price broke down channel support we'll wait for retest and when we don't see retest and simply price reverse here we'll plan for bullish entry and call it as bullish channel. As soon as price breaks out the channel resistance with a strong candle we'll entry in trade by keeping the stop loss as recent swing low and channel high as our take profit.
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