Question for Grob/Hershey...

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Do you mean LEFT line of the downward channel started mid January, its UPPER line? I guess this points toward a reversal toward 1250 ...
Quote from tradingbug:

I should have been more specific. The ES down channel is the LT channel and can be seen on the daily timeframe.

(from 2nd post up)
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I am leaning toward this as I have us hitting the right side of our ES down channel which we just retraced on decreasing volume.

So in summation, even though rally confirmation was yesterday, I have us sitting at the right side of the ES down channel. Which one takes precedence.
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Quote from cnms2:

Do you mean LEFT line of the downward channel started mid January, its UPPER line? I guess this points toward a reversal toward 1250 ...
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Pt 1 1/11, pt 2 1/23, pt 3 1/30. I am pretty sure I meant right line. Prob just semantics
 
Quote from cnms2:

Do you mean LEFT line of the downward channel started mid January, its UPPER line? I guess this points toward a reversal toward 1250 ...
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On a down trend channel, the right line will be the "top" line of the two; the left line will be the "bottom."

On an up trend channel, the right line is the "bottom", and the left line is the "top."

I'm vertically oriented, hence my choice of words.

Another way to look at it - draw an up or down channel. Draw a horizontal line through the channel. Where the horizontal line intersects the channel at the first point will be on what is defined as the "left line". Where the horizontal line intersects the channel at it's second point will be on what is defined as the "right line". (Note, "first point" and "second point" are not the same as "pt 1" and "pt 2")

HTH
Anthony
 
Interesting. I thought you're looking toward the "green" (as in golf) of the channel and the left-hand side is the left line, and the right-hand side is the right line. Is Jack and everybody using the same nomenclature as you do?
Quote from aweissen:

On a down trend channel, the right line will be the "top" line of the two; the left line will be the "bottom."

On an up trend channel, the right line is the "bottom", and the left line is the "top."

I'm vertically oriented, hence my choice of words.

Another way to look at it - draw an up or down channel. Draw a horizontal line through the channel. Where the horizontal line intersects the channel at the first point will be on what is defined as the "left line". Where the horizontal line intersects the channel at it's second point will be on what is defined as the "right line". (Note, "first point" and "second point" are not the same as "pt 1" and "pt 2")

HTH
Anthony
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my verbiage is the same as Aweiss's

the "right side" or "Right Trend Line" is where the trough occurs.
the "left side" or "Left Trend Line" is where the peak occurs.
 
I used to just picture the right trend line as the right side of my head and the left trend line as the left side of my head then just lean my head to parallel the channel.:) Of course I still have to take off my shoes to count past ten.
 
Quote from cnms2:

Interesting. I thought you're looking toward the "green" (as in golf) of the channel and the left-hand side is the left line, and the right-hand side is the right line. Is Jack and everybody using the same nomenclature as you do?
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I thought it was like this for a long time too - and I sure hope everyone is using it so, or I'm in trouble :D

I think it became clear when I looked at it from the perspective of making money - You want to always enter on the right side of the channel, and take profits at the left side of the channel (note - I'm speaking from an enter-hold-exit point of view).

Anthony
 
So "right" means "correct" or "easy" (not the right hand side as the channel develops, as I thought), and "left" is "what is left" ... This is important to understand each other (and Jack's explanations), the analysis should be the same.

Thanks.
Quote from aweissen:

I thought it was like this for a long time too - and I sure hope everyone is using it so, or I'm in trouble :D

I think it became clear when I looked at it from the perspective of making money - You want to always enter on the right side of the channel, and take profits at the left side of the channel (note - I'm speaking from an enter-hold-exit point of view).

Anthony
More...
 
There is a right (physical) and a left (physical) side on the channels. Jack often talks about being on the "right side" of the market but when he talks about right trend line and left trend line he is talking about its physical properties not psychological properties.
 
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