How To Read Channels

[elovemer]

no channels ?

 

[ammo]

weekly big channel nq, pull back too 1805 is 50% of big channel and 23% pullback of recent lo to hi

 

[ammo]

bidu

 

[ammo]

fslr

 

[inks2002]

Quote from elovemer:

.... there is a connection between the pitchfork and channels

there definitely is, but I find finding that first point is hardest, i prefer channels with the median line

 

[inks2002]

....es hourly...1108 looking good for a short?

....and never....never...get rid of the median lines....ever

 

[stevegee58]

Quote from inks2002:

....es hourly...1108 looking good for a short?

I wouldn't short that uptrend since the uptrend line hasn't been broken yet. It may provide lots of support when encountered. What's more, there's a round number (1100) near the uptrend line that needs to be penetrated.

If the uptrend line is broken all hell would be breaking loose and that newly formed downtrend channel should be your guide.

 

[ammo]

brk b

 

[ammo]

brk b triple top on daily

 

[stevegee58]

ES channel action. Remember what I said about all hell breaking loose when the uptrend line was broken?

Sell the rallies now.