Have a look at this SLR chart and see how using simple channels can provide the backbone for price structure. It doesnt have to be perfect, and trading isnt meant to be, but you will get price targets from it which is structure to what would otherwise just be noise. Of note, you need to look for trending stocks and preferable ones that have tend to channel in the past as history tends to repeat (same traders watching it with the same style).
When price approaches the top of the channel you can sell into it. When price breaks through the bottom of a descending channel, you can buy into it being a blow off bottom.
(with the first two lows of each channel, try and imagine you have just projected the line up on the first new high, then watch how price respects that new upper channel line)
