Remember this bottom channel lline was drawn awhile ago. Why does price bounce off of it? One of those mysteries of life.
I had one Q on the annotation of the chart posted. The scaling on the chart did provide some personal distortion in seeing the annotations. Nonetheless, I was curious about one zone of the annotated chart in which I had seen matters differently in my own chart annotation. In the following post, I will put up my comparison chart. I have highlighted the zone in your annotation. Kind Regards, MAK!
There is str/squ aspects which tells you that synching is complete. It has to do with cash and futures aligning. There is a quick way to evaluate that synch has occurred and I am still building on it. Some of the more advanced folks can provide a hand here. MAK!
Comparison Chart... Admittedly, the chart previously annotated is ES whilst this one is SPX. The correlation between the two is very high as one would expect. I highlighted the same exact zone and scaled my vertical according to EQ preference. The time span between both charts are the same. Is the highlighted annotation proper? MAK!
On a slow day like this, for YM, 40ish point range, is it recommended to trade, or are the channel widths too narrow for reversing positions and opening new positions?