How To Read Channels
- Thread starter elovemer
- Start date
887ish would have been a sweet entry for a long.
I assume you look for confluence of several channels...would you have gone long at the above level ?
... i hope i did not take your question too lightly ....
.... i should say that.....
... if it is a down channel..... i would look short either at the upper wall
... or at a failure at 75% or 50% level
... 50% level means the centerline.....
..... and if it is an up channel.... i would look to long it either at the lower wall
.... or at a failure at 25% level or 50% level.....
.... as long as price is moving in a down channel.... i would not look to go long until a new up ward channel is formed.....
.....although.... if the downward channel is large enough....
... an upward channel may form within the larger channel which would allow a long position on a smaller scale....
.... hope that is helpful to you....
.... i should say that.....
... if it is a down channel..... i would look short either at the upper wall
... or at a failure at 75% or 50% level
... 50% level means the centerline.....
..... and if it is an up channel.... i would look to long it either at the lower wall
.... or at a failure at 25% level or 50% level.....
.... as long as price is moving in a down channel.... i would not look to go long until a new up ward channel is formed.....
.....although.... if the downward channel is large enough....
... an upward channel may form within the larger channel which would allow a long position on a smaller scale....
.... hope that is helpful to you....
