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How To Read Channels
- Thread starter elovemer
- Start date
Quote from inks2002:
sorry for my crappy chart, at work and no access to strategy desk charts (blah blah i know ameritrade)....I see a downward channel since the start of the year in the orange channel lines.....but seems we have started an about equal distance channel down from the lower orange line possibly? will see if the red mid line on the orange channel holds on the blue channel up. look at the chart it makes more sense than my ramblings.
Hi Inks, your equal distance channel chart looks pretty good. Do you need to be a member of stockcharts.com to get that chart? Thanks.
Quote from blnbr:
Hi Inks, your equal distance channel chart looks pretty good. Do you need to be a member of stockcharts.com to get that chart? Thanks.
yeah you have to be a member. I'm not a huge fan of their drawing and chart tools there, but I'm at work all day and evening and its the best charting i've found so far. if you have any other suggestions let me know, would be willing to switch.
pattern is pushing the middle support on the channel, possible break on monday? got a feeling that it won't, even though i'm still long in my SSO trade, will see on monday and will react. Thoughts anyone? break above trend line or fall on monday?
Positives is that we closed above november lows and above our 20 day moving average, maybe some weekend news?
Positives is that we closed above november lows and above our 20 day moving average, maybe some weekend news?
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couldnt break thru the congestion area from 2/20 thru 2/26 so unless we get some news,like bin laden captured,the rally is petered outQuote from inks2002:
pattern is pushing the middle support on the channel, possible break on monday? got a feeling that it won't, even though i'm still long in my SSO trade, will see on monday and will react. Thoughts anyone? break above trend line or fall on monday?
Positives is that we closed above november lows and above our 20 day moving average, maybe some weekend news?
Quote from inks2002:
yeah you have to be a member. I'm not a huge fan of their drawing and chart tools there, but I'm at work all day and evening and its the best charting i've found so far. if you have any other suggestions let me know, would be willing to switch.
I guess every chart/software has its strong points and weaknesses. I like your chart because it has several months history for intraday data and the âequal distance channelâ also looks practical.
I used to have Metastock and TC2000 when I traded many individual stocks. Currently I mainly trade a few indexes and a few Forex pairs, I use MetaTrader (for Forex), IB platform and bigcharts.com, they are all free software. Now I look for one more I like.