Thankyou acouch. That chart was useful for me.
I had drawn a similar chart with two possible channels-one with the support line intersecting the y-axis at about 11.10 and resistance line intersecting y-axis at about 12.75. Basically the same as your chart.
The other possible channel is far steeper-resistance line intersecting the y-axis at about 13.50 and support line intersecting y-axis at about 11.45. With this channel the resistance line was touched around 9 September and again in mid October (twice) and the support line touched in early July, beginning of October and on 24 November (3-times).
Any reason why you have not gone with the latter possible support/resistance lines?
Cheers Ajax
chart, page-6
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