Without the volume it's just me spewing opinion.
What needs to be remembered when working with channels is that they are fractal...
They are nested. A slow time frame up channel contains faster frame channels, both up and down, and so on and so on and so on. The slower the time frame the more difficult the channel/volume relationship is to decipher due to (unseen) nesting. Nonetheless, "fitting" channel lines to visual only, is similar to curve fitting.
There is dominant and non-dominant volume associated with the dominant and non-dominant segments of movement within a channel. For example, a retrace is non-dominant. When a channel is properly constructed, dominance AND non-dominance are visible through increasing and decreasing volume. Declining or increasing compared to what is a different topic.
Trends change when non-dominant volume turns into dominant volume in the same direction!. For simple illustration, the move from Point 1 to Point 2 is dominant movement. The move from Point 2 to Point 3 is a retrace. Please note I did not specify a channel slope! A retrace is non-dominant and occurs on declining volume. In an up slope channel you will be approaching or near the lower trend line. In a down slope channel you will be approaching or near the upper trend line. If/when volume begins increasing and price movement continues in the same direction, it's a trend change, or it will be a failed BO.
Armed with the only the above, if you pay attention to volume, you will see things. And you will begin thinking that the car in front of you is following you too!
Hope this helps a little.
