A channel is a chart pattern. And uses trendlines. A channel indicates an entry and a possible exit. It can also control the risk.
A channel consists of two parallel lines, between which the price moves.
Drawing a channel:
Ascending channel
- During an uptrend, draw the basic up trendline along the lows. Then you draw a line from the first peak which runs...
in every channel's there are wedges forming while the trend is reaching a support or resistance line(blue line) P.S I draw that line 1 year ago.
with getting close to that level we can see that the market is going to loose energy that's the time we must open a position or close it(red number 3 in the chart was a good time to close long that's what I did)
don't...
