How To Read Channels

pitchfork resistance

 

this is not a channel because it was formed using the top line.... to get the bottom line

but it does show support

 

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..........

 

same channel provides support

 

...this is set up for a centerline pullback on monday...

if it wants it

 

... could do another centerline pullback tuesday ... on new channel

 

.......

 

......

 

it is set up again for wednesday

 

the break out ... negates the centerline pullback set up