How Do You Trade Channels for Price Action Traders ?

wtf happened to Hershey?

I kinda miss the old coot and his ramblings.

 

I believe he died

 

if true very sad to hear..wish I was nicer to him...

 

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Put some Keltner Channels on your chart, SPY is a good benchmark. Looking at all 3 lines -channels. On single stocks with huge swings like some small caps, could sell above upper channel, but that is counter trend [in an uptrending bull market which is what we are in]. So i do something else. Good study area ; is wisdom

 

To rephrase old proverb: "Drawing channels is very simple, but using isn't easy."

 

Very abstract rule is "Trade channel from RTL to LTL".

 

Thanks stepan7 !

 

Today's channels.

 

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Great win point FordWin;
+just because some have made money with an'' Andrews Pitchfork '',[3 straight lines] does not mean anyone else could.It sure is not a prediction ,even though it appears to have some good patterns sometimes.

BUT then when i or you look @ many years of data, oops, oops ,one really could miss + miss much of a good move.Come to find out then they stick some more trendlines on it LOL 3 trendlines turns into 6.........LOL.
No turtle is against trendlines, auto drawn LOL. But sometime you will see a auto drawn trend line drawn wrong, but not to often.

BUT that helps a lot; auto drawn, which was one of your main points; trend lines like 200 day moving average. NOT a prediction

 

Why even looking at paast channels?I don`t.I see them painting real time.There are no historical channels on my chart, as you can see.

It can`t draw wrong.It draws as it s supposed to.