Horizontal Channel
a.k.a. Range, Rectangle, Sideways channel
A sideways range where price bounces between a flat support floor and a flat resistance ceiling.
In plain English
A sideways range where price bounces between a flat support floor and a flat resistance ceiling.
A horizontal channel forms when neither buyers nor sellers are winning. Price bounces between roughly equal highs and roughly equal lows.
Range traders buy near the floor and sell near the ceiling. Breakout traders wait for an escape. See consolidation.
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