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
$1.03 |
Change
-0.020(1.90%) |
Mkt cap ! $1.164B |
Open | High | Low | Value | Volume |
$1.06 | $1.06 | $1.02 | $3.924M | 3.806M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 86162 | $1.03 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.04 | 199641 | 32 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 91744 | 1.030 |
22 | 207349 | 1.025 |
23 | 230185 | 1.020 |
22 | 356514 | 1.015 |
18 | 677734 | 1.010 |
Price($) | Vol. | No. |
---|---|---|
1.035 | 197641 | 31 |
1.040 | 410843 | 19 |
1.045 | 137153 | 17 |
1.050 | 114163 | 9 |
1.055 | 94543 | 8 |
Last trade - 13.24pm 16/05/2024 (20 minute delay) ? |
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Last
$1.03 |
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Change
-0.020 ( 2.47 %) |
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Open | High | Low | Volume | ||
$1.06 | $1.06 | $1.02 | 495761 | ||
Last updated 13.42pm 16/05/2024 ? |
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