How To Read Channels

re-enter or not

 

hourly four touches

 

.... closed ....
.....below center line and below big channel
.... 30 min globex

 

..... this forum will be moved to CHIT CHAT section....
..... because no one else is posting their channels.....

 

vvv

 

....

 

NQ

15k vol.

http://www.sierrachart.com/userimages/upload_2/1235639974_23_UploadImage.png

 

15 min SSE Composite Index

 

.... a channel ... as i understand it... must be formed from three points in the beginning......
.... if an upward channel.... two points on bottom and one above
..... if a downward channel.... two points above and one below....

...edit... once the channel has been formed... then price can decide when and how it wants to exit the channel.....
..... if trades are to be based upon movement in the channel.... then those three points are very important....

 

April Gold Channel