This chart of FB shows a piercing pattern setting up. The last time this occurred, there was a continued move up. A simple backtest with the automatic candlestick recognition.
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TA is mostly a self-fullfilling prophecy, imo. So I want to see what others see and either join or fade. I see you can set up chart alerts, which is nice feature. Take it back
Probably better to take a long position closer to the bottom boundary of the channel. Place the stop below the lower boundary. Is it more likely to make profit in a short position there? Closer to the stop, which would be above the upper boundary, which is also the stronger of the two trend lines. More space inside & below the channel for profit taking. Watch volume to confirm break-outs