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Al says that Channels are rarely perfect. But If Al were to draw channel lines on this chart how would he draw it.
@ludopuig @Mr.Carpet
Hi Sudeep,
When I look for channels I first look for the BO as per market cycle, then look for the CH after it. My attempt below. But I think everyone is going to draw it differently because how big the initial BO is and and how far it goes is very discretionary so every trader will see it differently and draw differently.
But I think the main point isn't to get channel lines "right" but to see if there's one sided trading or two sided trading going on. Basically, drawing lines helps to see if the channel is tight and we should focus trading in one direction only or if price action is such that both bulls and bears can make money.
Hope that helps!
CH
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BPA Telegram Group
Yes, it helps!! Thank you!!
My take at it - could be wrong
