"Prices tend to move in channels"
And I thought of recapturing previous one & half months price-action and my own attempts ( failed ones) to find the correct channel. Putting it up here for record,self-enlightenment and public benefit (if anyone derives that).
As we moved up from 5477 following channel was the Ist preferred one:
And as it breached past this channel,next in focus was:
This channel was breached by a gap-up,and that brought into focus the last descending channel:
So the three descending channels which were propagating the probabilty of deep falls below 5477 got annulled:
And our search for the "proper channel" that is containing the current upmove, gets shifted to ascending channels
Which of the above three would be the correct channel,shall be known later
And as we are looking for the "correct channel" even today, a bird's eye-view should not be missed:
And I thought of recapturing previous one & half months price-action and my own attempts ( failed ones) to find the correct channel. Putting it up here for record,self-enlightenment and public benefit (if anyone derives that).
As we moved up from 5477 following channel was the Ist preferred one:
And as we are looking for the "correct channel" even today, a bird's eye-view should not be missed:
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