Here is an excellent example of CHANNEL CLONING. At the moment X is in a very interesting area.It's near the bottom of the red clone channel, just above the reference channel and at long term support. Near term target, top of clone.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
