Here is why I hate Jack's fucking channels. WTF am I supposed to do with this (see upper left quadrant of attachment)?
Just joking, per usual. At the time of the post I had drawn a reasonable looking channel (what else has one to do when the market is slow and one's favorite porn sites haven't updated?). It pulled an FTT at the top end (or as Jack says, "the left side"), but then it failed to break down out of the "right" side. All while there was the minor problem of resistance from the open with a rising wedge clearly forming. Not that I expected anything, just an example of how often channels are totally useless. IMO.
Channels are living things, you have to kind of coach them along as they go. It helps if you are hugely leveraged, your coaching can then reach it's proper intensity.
Too true, Maxpi. I am so ashamed of myself. I Jacked-off on the right channel at 12:11 ET. Total accident that it worked, I think. But I hadda do it. Was lisnin' ta "Take a Walk on the Wild Side".