How To Read Channels

[vikramkbc]

Can you tell me plz , how to read these channells as i'm a novice in mkt.

 

[vikramkbc]

can anybody tell me how to read these channels??

 

[inks2002]

aud/usd hourly responding nice to its current channel....

 

[elovemer]

...

Quote from elovemer:

.....
this is not channel

 

[inks2002]

loonggg channel....usd/jpy daily from last high...been in the upper part of the channel for a while, break out time???

 

[TraderSU]

My first channel in this thread.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2685664" />

Cheers,

 

[TraderSU]

Quote from vikramkbc:

can anybody tell me how to read these channels??

Channel lines act as support and resistance.

 

[TraderSU]

Channel or curve fitting

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2686139" />

 

[elovemer]

.... if you started drawing the channel from that first hit on the lower wall....
... then it is a channel
... if you started drawing it earlier... then it's curve fitting

... a good up channel starts with a point 1 hit on lower wall ... followed by point 2 up.. .and then a point 3 hit on the lower wall again
.... just my opinion... :0)

Quote from TraderSU:
Channel or curve fitting
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[elovemer]

trend line