Posted by frtaylor on 26th of Sep 2010 at 08:04 pm
wouldn't we need to see more touches of the upper trend line of
your channel before we could say that is in fact the upper trend
line? You've only got one point touching that upper line so far.
Not saying it couldn't come to pass but it's premature at this
point, no?
I am looking more at the bottem trendline and just use the upper
trendline as a guideline(parallel to the bottem line). Price move
in channels most of the time. I also put my stop a bit wider under
the trendline to give it room to move and only short if you get a
decisive breake of the trendline because what could happen now is
that it could form another channel supported by a lower
trendline.
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wouldn't we need to see
$SPX30min
Posted by frtaylor on 26th of Sep 2010 at 08:04 pm
wouldn't we need to see more touches of the upper trend line of your channel before we could say that is in fact the upper trend line? You've only got one point touching that upper line so far. Not saying it couldn't come to pass but it's premature at this point, no?
I am looking more at
Posted by kobie on 27th of Sep 2010 at 08:10 am
I am looking more at the bottem trendline and just use the upper trendline as a guideline(parallel to the bottem line). Price move in channels most of the time. I also put my stop a bit wider under the trendline to give it room to move and only short if you get a decisive breake of the trendline because what could happen now is that it could form another channel supported by a lower trendline.