Channel, what are you? - page 6
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This is a sideways price movement along the resistance line. This is where the bulls and the bears are "fighting" and where the forces are consolidating.....
Are you sure this is the case: who is "fighting, fighting" there? Like the channels themselves: here and there, then the price breaks through them, then it comes back, then it doesn't... - not too many assumptions?
Could it be simpler than that? Some sell, others buy, price bounces several times from the level, as the large volume is split into several parts and gradually introduced into the market, imho currencies are not stocks
Are you sure this is the case: who is "fighting, fighting" there? Like the channels themselves: there is one, then the price breaks through them, then it comes back, then it doesn't... - not too many assumptions?
Could it be simpler than that? Some sell, others buy, price bounces several times from the level, as the large volume is split into several parts and gradually introduced into the market, imho currencies are not stocks
Yes, I'm sure.
Yes, I'm sure.
Great, draw a channel for the EUR for intraday trading today, set the takeoffs and see where your channel is tomorrow.
Don't bother drawing a channel.
Draw a trend line, and the channel is only a consequence obtained by the parallel line.
During the day (besides the general line) you can draw several trend lines, depending on the TF you are using.
I should add: we also need resistance levels.
Great, draw a channel for the eu for intraday trading today, set the tokes and see where your channel will be tomorrow
The plan for the DCMV channel today is as follows.
For the DCMV channel, the plan for today is as follows.
Yes! Your channels will make sense for trading, and those channels drawn on previous pages are just a beautiful reflection of history - that's why I got into the discussion
Do not bother drawing a channel.
Draw the trend line, while the channel is just a consequence obtained by the parallel line.
You may draw several trend lines during a day depending on the TF you are using.
I should add: you also need resistance levels.
I.e. you confirm that there are no channels, but trends exist?
SZZ:TF is not important, or rather TF depending on take and duration of position holding, and the system of three screens is quite a good TS for manual trading, imho.
Yes! Your channels will make sense for trading, and those channels drawn on previous pages are just a beautiful reflection of history - that's why I got into the discussion
Do you think that "a beautiful reflection of history" and "the sense of trading" are not compatible? And what about the principle that history tends to repeat itself?
In fact, this is an important point - how much you can trust the information about the parameters of the current channel drawn on the basis of the previous history.
By the way, what do you think of the channel at the junction of trends? That is, when one trend replaces the other - the channel is broken and a new one starts immediately. But, until the new trend sets in, we don't know if we can use the new channel or not. And since trading against the trend is a thankless task, maybe it does not make sense to talk about a channel at all when the trend changes.
On the second page of this thread there are questions from Forte928.
Try to work out what he is writing about.
His questions are not nonsense.
there are a lot of questions about this topic, and answering them will help you build a highly profitable system:
1. why does the initial channel change
2. why does price breakout and return to the channel
3. why does the channel widen
4. when is it possible to break through the channel?
5.when price breaks through the channel and enters a new channel
6.how long will it stay in the channel?
By answering these questions, you will understand how the market behaves, know how the price behaves, when to buy or sell, and additionally, how to enter or leave the market with a high degree of accuracy.
There is no need to ask counter-questions, I have already found all the answers - and whether you will do it is your life and your success...
1. The channel, or the trend line, is modified in case of a corrective wave penetration and return to the trend. i.e. the level of the wave increases.
2. The resistance or support of the channel is broken through by a corrective wave, then it returns, if the opposite side of the channel is broken through by an impulse and returns.
3. The opposite side of the channel is broken through by an impulse.
4. Any pullback or impulse can break through the channel.
5. Formation of a new channel is only possible by breaking through support or resistance of the channel, and horizontal level of support or resistance, i.e. breaking through the channel and base of the last wave in the channel, then breaking through a new max or min.
6. until the breakthrough of the channel, i.e. the current wave is not completed until the channel is broken through. breakthrough of the channel, the wave equal in level to the wave in the channel, broken through by this wave, has started.
Are these answers correct?
Also, the price is clearly going along the trend lines. When the direction changes, the price breaks one trend line and pushes off the second.
Do you think that "beautiful display of history" and "meaning for trading" are not compatible concepts? What about the principle that history tends to repeat itself?
Not compatible, history repeats itself, but not to the pip - i.e. visually we see similar patterns on the TF, but if you view the price even with the help of a market profile - you will see that the price fills not the historical data, but the gaps
yes, but notice that the key word is trend, not channel
By the way, what do you think of the channel at the confluence of trends?