How To Read Channels

[elovemer]

....got the 200sma hit for the short....
.... now the question is will centerline hold or not......

Quote from elovemer:
...on 10 min globex....
.... rejected at 100 sma yesterday....
...on wednesday.... first hit of 200 sma is usually a high percentage short

 

[elovemer]

TRADING HOURS....
... bottom of channel 10 min

...edit.... Marsupilami
...there is your example of a short in down channel at centerline failure.....to close at bottom of channel....
... trading hours... not globex

 

[elovemer]

30 min .... trading hours....

 

[elovemer]

2nd attempt at crossing center line
10 min trading hours

 

[Mup]

Are you using ALts with in the channels elo, ?

Like that short centerline failure...... example yesterday

http://www.elitetrader.com/vb/attachment.php?s=&postid=2310090

 

[elovemer]

.....hey mup
... i wasn't... but that sounds like not a bad idea....

Quote from Mup:
Are you using ALts with in the channels elo, ?
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[elovemer]

10min trading hours...
... that makes two shorts from centerline
.... now looks like a sym tri...

Quote from elovemer:
2nd attempt at crossing center line
10 min trading hours

 

[elovemer]

bottom of larger channel

 

[elovemer]

.... trying to traverse the mini channel....

 

[elovemer]

..... rarely does price just fall out the bottom of a larger channel.....
.... except for a short-term squeeze play

Quote from elovemer:
bottom of larger channel