Price Channels
- Thread starter mikeriley
- Start date
Dude, what's gone into your head? That's the same thing as the daily chart!
Use your calculator again, a daily chart is 23 hours or 1380 minutes for futures contracts.
The chart posted is 345 minutes, which is considerably less. Each bar is 345 minutes, and not a daily chart.
I think maybe the X axis might have confused you. I don't even look at daily charts anymore, and use the chart posted for swing trading to hold positions multiple days. There is value in using price channels for higher time frames,
to the discerning trader.
The chart posted is 345 minutes, which is considerably less. Each bar is 345 minutes, and not a daily chart.
I think maybe the X axis might have confused you. I don't even look at daily charts anymore, and use the chart posted for swing trading to hold positions multiple days. There is value in using price channels for higher time frames,
to the discerning trader.
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Channels don't exist
They do on our screens when we draw them there, and/or construct our own charts in such a way as to facilitate drawing them.
In other words they’re user-defined, not market-defined (like so much else that people use, not always quite understanding clearly the difference between the two).
Personally, I’ve only ever found horizontal price-channels of value.
of course they are
everything is .
that is the beauty of trading . you can be in your own world
Maybe I’m deluded or naïve, but I like to think that some things (e.g. “yesterday’s high/low”) are actually objective, factual and verifiable.
Lol, maybe. Not so much if (for example) you take CME's definition of the "day," for futures-trading purposes.