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LOL -- my reasons for being negative are often created by just such a statement as you have above --- 192 posts or so, with at least half being pictures and explanations of the LRC, and then theres always one who doesnt know what Im talking about. Not stated as a negative about you, but HOW ON EARTH CAN ONE TEACH IMPORTANT THINGS ABOUT THE MARKET WHEN SO MANY MISS THE POSTS ??
oh well, attached chart shows the channels (GREEN) which are "essentially" nothing more than parallel trend lines, showing top and bottom of the trend the currency is moving in, in whatever timeframe you so choose. DeMark trendlines, an indicator called "SHI channels real", and a couple other trend channels exist out there and do much the same thing, but my personal favorite is the LINEAR REGRESSION CHANNELS, as theyre based on support and resistance AND some mathematical voodoo that always seems to know.
Notice how the price, similar to the bols, wants to move from one side of the channel to the other -- invariably, once a bounce has occurred off of one channel, the price WILL move to the other channel, only problem being news, which can temporarilly keep this from happening, BUT once set in motion the price WILL hit the opposite channel, and the best use of them from my point of view, is to predict overnite trades, as a bottom on the H4 channel that occurs at 2 in the afternoon (EDT) will NORMALLY not actually start its REAL move until MIDNITE EDT, and complete by a bit into the following days US mkt open !
there are a few ways of working with it, such as a shorter timeframe where its easier to simply play moving up and down the channel (s+r will show you a lot) and therefore "playing the channel".
It points out TRENDS immediately, on any timeframe, which allows you to effortlessly trade as long as you trade the trend, and it can show you the downside moves left when you decide to go short, and perhaps miss your exit and then get swallowed up in an intraday upside reversal.
once you use it whole new worlds are opened to you in a completely visual style --- hard to miss whats happening, methinks !
enjoy and trade well
mp