I have been struggling with channel placement all week. Here is my lame attempt on 32M ES tracking the downtrend with midpoint blue line placed at Friday's close. The inner lime green channel lines have done an OK but not perfect job of containing the down move, until this morning's move up, so I added a parallel channel line to the down channel, which kinda worked to catch the advance. But the two up channels I'm not so sure about, the steepest one has broken for now. We were up 90-ish point off overnight now, but I don't even know if that's a lot, given last few days action. Still feels like down is the way for now. I'm interested to see what happens if we drop to the upsloping midpoint line around 3125-30, but I hate trying to trade these wide channels.I'm just gonna watch awhile and see what happens. 😡
