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AL said earlier,After a Tight Channel,any reversal will probably be minaor,but why say this buy can be profiitable? Is because the Context? ( 50%pb & Double Bottom)
Hi Peter,
Well a scalp would likely be profitable, especially with a limit order expecting a wedge reversal. Just because it may only be a minor reversal in a tight channel, does not stop the trading which goes on relentlessly. Being a tight channel, yes, the situation is more risky for stop orders, or beginners/less-experienced traders, that's all.
Do not fret too much over stuff like this. We can never be certain what will happen, and as Al will often say we can usually buy or sell at any time and not lose - provided we manage the trade properly.
And yes, always keep aware of context. In this case, after a 50% pullback, it is quite possible to get a trend resumption. So many traders will be happy to buy, as many do at 50% pullbacks.
@richardhkbtc-com Thank you for your patience!
