How To Read Channels

....possible new channel.....
.... lower slope than before....

.... ten min cash....
...cash here means trading hours only....not cash index....

 

original channel

 

....so if you go by the original channel....
...... we are hugging the lower edge implying possible break down..... where it could not continue down last time it tried to break out down....

....if you go by the new channel.... we bounced off of centerline from below.....
.... and a move to lower edge.... would put ES at around .... 885 if you use a 45 degree angle.....of descent

 

thanks elo, ge broke daily supp around 16.60

 

....heck might as well post a channel of it.... :0) you would be the first channel contributor.... ge ?

 

i wish i knew how,very limited comp skills,but thnx for showing your stuff,my contributions will have to come in form of cliff notes

 

.....the new channel is proving itself out...
..... while the old channel failed at 75%.... the new channel failed at 50% .... and the low was a hit of lower channel line
....which makes 4 hits on lower wall and one on upper wall....
.....it also makes a sort of rounding top which doesn't bode well if this lower channel line is broken friday.....
.....these are trading hours only

 

on a positive note.... we are out of the very large channel from recent weeks....
....the upper wall of which is the blue line...

...if nobody contributes any screen shots.... then this just turns into an analysis crap shoot.... not what i want....

...is that what you want ?

 

..... pointless to post.... if no one else will.....
.... screen shots folks... of channels folks...

....simple concept isn't it ?

 

i accept your challenge

gold channel i've been watching sinec before the peak, working veyr well