How To Read Channels

... MAY want to test it from above....

 

.... going for retest... of channel bottom.... from above....

 

.... how about some charts....
... specifically charts of channels....

.... without a chart... commentary on this forum is useless.....

 

... this forum is for charts of channels....
... and commentary about YOUR OWN chart....
... not ....bulls**t.... commentary which is common to 99% of ET .....

 

....spy 5 min
... fell out of its channel....

.... a chart speaks for itself...
... bull--shinola walks.....

 

...... bounced on that lower channel wall....

....15 min es globex....

 

hourly globex es

 

spy 5 min

 

having a hard time deciding if we have broken out of the channel down from the start of the year or are we in the RED channel and simply retesting the top trendline. I like the red channel only cause the 770-773 region is a 38 percent fib retracement from the 2009 jan high of 943 to our march low of 666.

Any inputs?

closed out of my long SSO position yesterday around 769 after we hit the 773 trendline. Will enter an SDS postion if we retouch the trendline and fail. Wish I traded futures! But I am still very inexperienced

 

forgot chart