Hey @ddwnChannels can obviously be extended and @stokdog was...

Hey @ddwn

Channels can obviously be extended and @stokdog was good example. Always tricky though as once breaks out of the channel does it null / void or not. Obv the recent Ann was the kicker for the move back up, maybe not so much TA driven?

Another way is Linear Regression (Channel 1 or 2 Deviations) as well and by taking a period for the LR then allowing the channel to extend you can see expected potential trend, poss supp / resist and then also watch for breaks against the prevailing expected trend (or poss reversals). Some will use as poss signals for buy / sell from top or bottom (or outside) of the channel bounces. Is quite normal for mkt movements to overshoot one way or another (hence as we all say - never goes in a straight line) and come back closer to the central Linear Regression Line.

Simple example below similar to stockdogs time frame with the top LRC drawn between the two black arrows & extended forward and then the break down into another LRC I put on between another time frame (black arrows starting from where break down was) and extended forward. You can see the 2 poss trends and the push now back into the original LRC.

The pink ellipses are just highlighted prev higher high swings that I projected forward to where the SP hit today and came back to finish. Know prob doesn't answer much but was just a visual I guess to look at.

Also is the prev chart from last night & can again see where SP got through prev highlighted resist to next Fib resist area above & then pulled back to the area just tried break through. GL DD and holders.