For few days price action was trending within the range 10700 - 10840. Now its moving towards the support at 10700. On breaking it, price will move towards 10640, 10580 and 10520.
Ideally, to form a channel, we need HH or LL. We just cant start a channel in between.
In price-action, inclined channel (for example downward channel) indicates, the rate of loss of momentum by BULLS = rate of gain of momentum by BEARS
In price-action, inclined channel (for example downward channel) indicates, the rate of loss of momentum by BULLS = rate of gain of momentum by BEARS