How To Read Channels

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YM
.... TL

 

... when a new swing starts....
... you get the bottoming.... then watch out for the signal....

 

....also notice on this pull back...

... you got the initial channel...
...then it increased range to downside by 50%

....something to remember

 

....when it gets up to the old wall of the original channel....
.... that is a good place to start looking for the signal
....unless it happens sooner than that

 

... i won't post the signal....
... if someone else wants to ... welcome to it.....

 

....there's something else.....

... if using price.... after that big retrace... you might guess the bottom was a 50% extension
... or a measured move down.....

... using price alone... it was much more than 50%

... but now that we can see the new channel.....
..... you can see that the big retrace was in fact at the 50% mark... of the new channel.....

... .something else to remember

 

.... if you don't have 60 days of data.... you can't see this...

 

no idea yet on new channel