Couldn't get too much out of this chart. It goes from dead to big moves, then back to 0. Cyclical stocks and such are easier to use the channel method on. Anyway, the whole chart was practically gone through ...so "make it mine" and zoom in or out. You might want to get rid of all the stars. They get in the way. The last purple channel needs a bottom...and so does the largest channel. That doesn't mean it will happen NOW...but it's a possibility.
Comments
QuantitativeExhaustion
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Sill hung up here
QuantitativeExhaustion
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Since the previous touch came up short, we are seeing a breach in the descending parallel resistance. Could be a fake-out or breakout.
piloteiat
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very nice and useful work!
QuantitativeExhaustion
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@jr The whole system relies on ONE key thing that happens. Point one may start from a real point or an imaginary "post" bottom.When you have a lead point to establish the channel angle...all you have to do is wait for it to hit the opposite side...then it usually reverses from there. The LEAD point is the most crucial part about the system. I nailed EURCAD 6 pips from the top and 45 pips from the bottom with this method. I also nailed the bottom in SPY. It's because the market is geometrically rigged. Maybe you dont
- JR
QuantitativeExhaustion
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"@jr by the way, the trick to the system is the vertical distances at the start of the channel always remain constant, no matter what the channel angle is. Also, the channels are alway tied together...and the trick is...it looks like they don't continue because you may have sections that don't hit 3 points, but if you check later they recontinue. The other thing is...if a channel starts going through data, then you know you have to go back to the last key point and reset the channel angle."