Silver-Silver

General guide of WTI corrections - Feb Rally

NYMEX:CLM2016   LIGHT CRUDE OIL FUTURES
General thought... make what you will of it.
great job.
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Clear and simple, my kind of ideas.
Thanks for sharing
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Great chart. How do you construct the channel, and the curves?
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Silver-Silver dannyinhouston
Hey Danny, sorry for the late reply.

The bottom and top of the channel are based on the highs and lows. Red dotted lines are resistances and blue dotted lines are support lines. Black line in the middle goes from support to resistance depending on the time you look at it and it's also the middle line for the channel. The first and second curves are based on how the price acted during previous corrections. The third curve is a projection based on the first and second curves. Let me know if you have any other questions. Cheers
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