Channels

Once we have found our HH, HL, or LH, LL Trend, we draw a parallel line and we have a channel! No, these are not TV Channels, but just as exciting for us Forex Practitioner this further in depth step allows us to find sideways support and resistance levels that aid us in determining our entry and exit points in the market.

Bullish Ascending Channel- Buy Opportunities

- Significant Low Point

-Parrallel Channel, Connection Point

-Next Higher Low (HL)

-Higher Channel Boundary Target

Bearish Decending Channel- Sell Opportunities

-Significant High Point

-Parrallel Channel Connection Point

-Next Lower Swing (L,H)

- Lower Channel Boundary Target