1CHBO – 1st Breakout of a Channel

The first counter trend break of a channel move is called 1CHBO. The BO is usually expected to fail and is a signal to enter in the direction of the channel. Here are a couple of nice examples.

This setup is from my favorite blog Nine Transitions, to find more examples, check out the tags on the right.

Leave a Reply

Your email address will not be published.

if you post a comment, we save your comment text, name, email address and website (if provided), also time and date - see also our Privacy Policy