Forex Trading Service

The Professional trader uses the channels resistance for selling the pair and buys at the channel support. In the above figure a nice “descending channel” is drawn in the EURJPY pair. Traders wait patiently for the price to reach the channel resistance for the third time. After the price hit the channel resistance for the third time, traders wait for price action confirmation signal to enter the market. A nice “bearish pin bar” is formed at the above channel resistance which triggers the short entry of the traders.

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