I think he’s being helpful just blunt. If I had to draw that channel w/just 2 highs, I would use 2nd to last bar - meaning price is higher. Because if it goes up tomorrow then you’d just be redrawing the line to a higher point. Helps to have more than two highs with the highest point not being the last candle. And only one point is touching at the bottom. So my thoughts are the channel doesn’t have much meaning in and of itself. Just trying to be helpful. Channels change as do their angles - with current market conditions ( wether sustainable of not) one I drew is the highs on the 4 hour chart or even daily chart going back to 10-15 - which has some room to go up. But I have nested channels on lower time frames so therein lies the problem. Switch timeframes or switch timelines and you can get different results. And a three point channel probably isn’t the best to draw conclusions off of. Just trying to help. FYI I dTrade only , so I watch LT trends but i trade shorter timeframes. Gl!
View original message
  • 1