Channels: Here's what you want to know.

FX:EURCAD   Euro / Canadian Dollar
92 3 5
Channels always remain tied together. There are as many as 3 different sizes running over top of each other on 1 chart. The STARS are lead points to carry the angle to the opposite side. Sometimes you shoot off the post (the vertical distance) at the start of the channel. The angles at the top are disjointed scissors. If you did the same down angle, as the up angle at the last real point it would be too fast. That's why the angle is moved ahead. That formation at the top where it flattens is a common formation. I've seen it many times before a big reversal. Have fun... and send some money if you become rich off of it. LOL
I've never seen this technique before. Interesting. So it looks like its headed downward?
Robert24 ForceFollower
That's what I get. Honestly, I just went over this chart a couple of hours ago. You make your own decision. I was really just showing how my method works. I've had everything looking perfect and something screws up, so there's nothing 100% unless you're the one setting the prices. The method has huge potential if you have a good sense of general direction and you can catch a lead point close to the start. You can literally just wait for it to hit the opposite side of the channel and the reversal will occur. It's best to look for formations like top, top, bottom... bottom, bottom,, bottom, top...bottom, top, bottom. There is also top, bottom, bottom and although you can't really make money off of it, you would know that a new channel pattern will soon start. It's not foolproof, because it's still hard to tell if it's the properly laid lead point...but if you catch the lead's deadly accurate. Look for the stars on the chart. They give examples of lead points. Time to go here. Got to get some sleep. Hope that helped.
Thank you for the long explanation. We'll see how this chart develops.
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