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I cannot advise any books solely on channelling because there are none. Read Murphy's Technical Analysis book but it won't give you the very specifics of channels. The only way of learning is by doing and there is a perfect resource for that : past prices. Open charts and try to put past prices into channels. Practice is the only way and I must admit you need a lot practice. Eventually you will start seeing everything in channels LOL. I see many "gurus" channelling prices absolutely wrong and they have 30k+ followers. Incredible :D
Here is the TBT Sandie. Major red channel is still in charge. The green internal channel may deliver one more lower low. And the blue one is speculative but I've seen these spin-off channels many times within the steeper larger channels such as the red. We have more time before any rate hikes come out.
Great Stuff Bouraq, as usual.
ReplyDeleteCould you revisit TLT please, here, on Twitter or on StockTwits? (been a very long time since your last mention)
HI Bouraq,
ReplyDeleteI've been into ElliottWave and never been able to count waves properly and always been a failure from past 1 year at least.
Your channeling has been awesome and identifying high probable trade opportunities . Please refer any good book on channeling, so we all can learn.
Thx
Hi Kiran,
ReplyDeleteI made a post on EW when I started trading. It's here:
http://www.tradingchannels.co.uk/2013/03/next-leg-down-c-wave-right.html
I cannot advise any books solely on channelling because there are none. Read Murphy's Technical Analysis book but it won't give you the very specifics of channels. The only way of learning is by doing and there is a perfect resource for that : past prices. Open charts and try to put past prices into channels. Practice is the only way and I must admit you need a lot practice. Eventually you will start seeing everything in channels LOL. I see many "gurus" channelling prices absolutely wrong and they have 30k+ followers. Incredible :D
Here is the TBT Sandie. Major red channel is still in charge. The green internal channel may deliver one more lower low. And the blue one is speculative but I've seen these spin-off channels many times within the steeper larger channels such as the red. We have more time before any rate hikes come out.
ReplyDeleteyour NASDAQ 100 chart is it 4hr or daily chart?
ReplyDeleteWeekly log scale chart.
ReplyDeleteThanks, couldnt reproduce in my charts!
ReplyDeleteWhy not? LOgaritmic scale should be on and put it to daily charts. You can post your chart here and I can check it out for you what's wrong with it.
ReplyDelete