How To Read Channels
- Thread starter elovemer
- Start date
.... sorry just noticed there is no red.....
.... so take the top channel.....
... then double the range of it ... to get the bottom channel... for possible turn
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...edit.. also... to form the first channel... the top channel...
.... i did not use the typical points 1,2,3 to form it
.... i used a different technique.... which uses the slope of a certain time period....
....even though... it looks like it might have been formed using 123 points... it wasn't... as you may notice there are 3 points on the bottom before any touch on the top.... on the top channel.....
.... i doubt that anyone else uses my technique as my technique is very very simple...
.... so take the top channel.....
... then double the range of it ... to get the bottom channel... for possible turn
------------------------
...edit.. also... to form the first channel... the top channel...
.... i did not use the typical points 1,2,3 to form it
.... i used a different technique.... which uses the slope of a certain time period....
....even though... it looks like it might have been formed using 123 points... it wasn't... as you may notice there are 3 points on the bottom before any touch on the top.... on the top channel.....
.... i doubt that anyone else uses my technique as my technique is very very simple...
....the normal technique that i use for forming channels on time charts....
.... is finding points 123 on larger time periods....
..... for finding the swing turns .... that last one hour chart is a good example
..... on a down swing.... pa will stay in the top half of the channel.....
...then as time progresses and you get closer to the time period of the last swing low cycle.....
.... pa will move toward the middle of the channel.....
.... then finally as the turn approaches... the shake out will occur near the bottom half of the channel
..... how do you know where that will be ?
...you don't
..... but you take the beginning of the channel..... and double the range to make a larger channel width....
... and that gives you an idea of the volatility expansion towards the end of the time cycle.....
.....sound complex ? it ain't....
.... is finding points 123 on larger time periods....
..... for finding the swing turns .... that last one hour chart is a good example
..... on a down swing.... pa will stay in the top half of the channel.....
...then as time progresses and you get closer to the time period of the last swing low cycle.....
.... pa will move toward the middle of the channel.....
.... then finally as the turn approaches... the shake out will occur near the bottom half of the channel
..... how do you know where that will be ?
...you don't
..... but you take the beginning of the channel..... and double the range to make a larger channel width....
... and that gives you an idea of the volatility expansion towards the end of the time cycle.....
.....sound complex ? it ain't....
saw in your last post on page 10 you where asking for screenshots so here is another one, im more of a scalper by the way , as trading tools i use the vix, trendlines, the LRchannels,the time and sales window, only long on ticks when the 5m and the vix is good only short on ticks when the 5m and the vix is good, stoploss under the lowest tick of the previous candlestick on the 5m
best regards
best regards