How To Read Channels

Discussion in 'Technical Analysis' started by elovemer, Dec 8, 2008.

  1. ....
     
    #511     Nov 8, 2009
  2. prediction value....
    take your last swing down
    draw a rectangle connecting the high and low of upper or lower wall
    .... then draw a trend line diagonally across the rectangle going up this time
    ... use that to draw a channel of the same approximate width the of one which went down before
    .... use this for prediction value....

    ... until you have the actual points
     
    #512     Nov 9, 2009
  3. In reference to the chart you posted prior to this post, would the upper wall be the 1101 point and the lower wall be the 1029 point?
     
    #513     Nov 9, 2009
  4. ......
     
    #514     Nov 10, 2009
  5. ......
     
    #515     Nov 13, 2009
  6. ...and....

     
    #516     Nov 13, 2009
  7. ....
     
    #517     Nov 13, 2009
  8. retest...
     
    #518     Nov 13, 2009
  9. another retest
     
    #519     Nov 13, 2009
  10. Hey, Dude, you got any TS code or program to go along with these charts?
     
    #520     Nov 13, 2009