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I don't do it because in that case the upper band doesn't fit the price action. Then you can't call it a channel. It's merely a support which can happen yes but it's not a channel.
Hi,
ReplyDeleteOne very basic question. The false breakout on SPX @ 1834, can that be used to draw channel? I've seen many doing it.
If that's a valid case, uptrend in SPX seems still valid.
Pls comment.
I don't do it because in that case the upper band doesn't fit the price action. Then you can't call it a channel. It's merely a support which can happen yes but it's not a channel.
ReplyDelete