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.
MSB Charts, page-131
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Last
$1.09 |
Change
0.015(1.40%) |
Mkt cap ! $1.238B |
Open | High | Low | Value | Volume |
$1.11 | $1.12 | $1.08 | $11.51M | 10.52M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 17804 | $1.09 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.09 | 230637 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2500 | 1.085 |
8 | 103868 | 1.080 |
4 | 20400 | 1.075 |
11 | 85089 | 1.070 |
4 | 50577 | 1.065 |
Price($) | Vol. | No. |
---|---|---|
1.090 | 5437 | 2 |
1.095 | 19582 | 2 |
1.100 | 34717 | 4 |
1.105 | 10000 | 1 |
1.110 | 53313 | 3 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.09 |
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Change
0.015 ( 1.85 %) |
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Open | High | Low | Volume | ||
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Last updated 15.59pm 03/05/2024 ? |
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