LEARNING TO DRAW CHANNELS ON CHARTS WILL IMPROVE YOUR TRADING PERFORMANCE AND POSSIBLY ASSIST IN ELIMINATING A BIG LOSS!
A traders long term success will depend on their ability to eliminate the "BIG LOSS" when considering the five outcomes to a trade!
Interview with Burak Kaplan, PhD, from www.TradingChannels.UK
Burak has been my mentor since October 2015. What I have learned from Burak has allowed me to develop my own trading style and alert system. Any serious technical trader needs to have Burak as a mentor.
Channel Drawing Techniques and Styles
Burak's style is to draw individual lines as the trends pop out to him as he reviews price action.
My channel drawing style is different. I draw channels using regression lines following price trends as well.
The end result is quite similar. The channel lines provide a great way to assist in position entry / exit
Understanding Channels and How they can greatly help our trading decisions.
Below is a close up view of the above 1hr chart. The Process of Drawing a Channel Using Basic Tools
The chart below shows the break down of the above uptrending internal channel inside of larger downtrending channel. An awesome short entry with a high probability entry, low entry risk and high reward.
Channels within charts are extremely helpful when trading. Technical analysis provides incredible insight as to what is to happen in the next few hours, days and even weeks.
Very few people in the world provide mentorships about reading channels.
My mentor Burak Kaplan provides a subscription service to trading channels including charts for: Equities, Precious Metals, Agricultural, and ETF's.