wtf happened to Hershey?
I kinda miss the old coot and his ramblings.
I kinda miss the old coot and his ramblings.
How Do You Trade Channels for Price Action Traders ?
- Thread starter ImAmine
- Start date
I believe he died
if true very sad to hear..wish I was nicer to him...
%%Hi,
I'm a price action trader and I'm building a system over channels but I found them very subjective and confusing.
My question is How do you trade channels ?
Thank You
Put some Keltner Channels on your chart, SPY is a good benchmark. Looking at all 3 lines -channels. On single stocks with huge swings like some small caps, could sell above upper channel, but that is counter trend [in an uptrending bull market which is what we are in]. So i do something else. Good study area ; is wisdom
To rephrase old proverb: "Drawing channels is very simple, but using isn't easy."Hi,
I'm a price action trader and I'm building a system over channels but I found them very subjective and confusing.
My question is How do you trade channels ?
Thank You
Very abstract rule is "Trade channel from RTL to LTL".
%%
Great win point FordWin;
+just because some have made money with an'' Andrews Pitchfork '',[3 straight lines] does not mean anyone else could.It sure is not a prediction ,even though it appears to have some good patterns sometimes.
BUT then when i or you look @ many years of data, oops, oops ,one really could miss + miss much of a good move.Come to find out then they stick some more trendlines on it LOL 3 trendlines turns into 6.........LOL.
No turtle is against trendlines, auto drawn LOL. But sometime you will see a auto drawn trend line drawn wrong, but not to often.
BUT that helps a lot; auto drawn, which was one of your main points; trend lines like 200 day moving average. NOT a prediction
Why even looking at paast channels?I don`t.I see them painting real time.There are no historical channels on my chart, as you can see.
It can`t draw wrong.It draws as it s supposed to.