that one fresh green candle bouncing off support support line mvp would like to see it hold :) break of the cyan channel looks like it would lead to new ATH $ HH
o thats cool I can scroll the live chart out and up and find the price levels of your blue red and green channel lines :) its like an easter egg
thanks for the publication very cool !!! :)
Durbtrade
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great feedback! thankyou @Sneaker_Wave!
michaeldouglas1915
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@Durbtrade, this is interesting, Could you please explain how you decided to use this chart and what do the lines represent ?
Durbtrade
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thanks @michaeldouglas1915, perhaps a good place to start would be here ... tradingview.com/ideas/parallelchannel/ ... there is a decent description of channels, and plenty of ideas to learn from. You can also look into trendlines, and support/resistance, to learn more, and you can also study the relationships that trends of one timeframe have with the trends on other timeframes.
As for the presentation of this chart and idea, I wanted the viewer to see various channels that I found important all at once, and how they overlap. Below the chart, I wanted to unveil each channel individually, starting with the smallest and most recent channels first... which is unique, and counter to the typical multiple-timeframe analysis method (usually you would want to start with the larger timeframes first). I did this on purpose... to show that while we speculate on the nature of the smaller or current trends, if we zoom out, the importance or weight of these minor trend speculations may change... depending on our perspective.