How to Trade for Beginners: Back to Basics series, we go over Channels! Why they matter and how to draw them. They are a very visual identifier in trading as most things are. Stocks at time channel up, down, or sideways. The channels don’t always tell you a lot when stocks are in the middle of them but they are useful for identifying reversal points at the bottom and top of the channels. When they break out of channels as well they can show you the move is about to gain steam and go parabolic. Be aware the parabolic move is a factor of how long the channel has been in play. For example, a stock channeling sideways for almost a year has more power and potential than a stock channeling for a few hours. Potential meaning, a larger move potential.
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Recommended Reading
https://amzn.to/37Cvklr
Volume Price Analysis by Anna Coulling
https://amzn.to/37NVvp4
Reminiscences of a Stock Operator by Jessie Livermore
https://amzn.to/38t20hm
2022 Stock Traders Almanac by Jeffrey Hirsch
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This video is for informational and educational purposes only. These are not recommendations to buy, hold, or sell any stock or security. I may hold positions in some of the equities mentioned, know your time frame and risk tolerance. I am not a financial advisor. Trade at your own risk.
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