Forex Channels Analysis

Discussion in 'For novice traders' started by Tengkorakfx, Oct 2, 2017.

  1. Tengkorakfx

    Tengkorakfx Active Member

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    Channels There are three types of channels in the Forex chart: up channel, down channel, and horizontal channel. In the ascending channel pattern, the peak creates the highest and lowest values higher. In the descending channel pattern, the peak creates the highest and lower values lower. And, in the horizontal channel pattern, the market revolves around the same price.

     
  2. Francmorio

    Francmorio Member

    Thanks for sharing this, I usually thought horizontal channel are the rectangulor formation. I don't know if I'm correct, but something like that. I like the idea of peaks; these are the best entry point for whoever is trading channels
     
  3. andengireng

    andengireng Member

    Channels in forex is one of the tools used in technical analysis whose function is the same as trendline, which is to determine the position of buy or sell properly. Simply stated, the channel is the trend line drawn in parallel, and either the peak or the bottom is the area that has the potential to experience support or resistance.
     
  4. NewbieTrader

    NewbieTrader Member

    I love posts like this. They keep me intrigued with the conversation yet learning new things at the same time. Awesome, guys! :D
     
  5. Tengkorakfx

    Tengkorakfx Active Member

    Determining a good channel on your chart can be mean you're identifying an ongoing trend, I highly recommend you to draw channel line from weekly or daily time frames. This works a lot for me as a swing trader...
     
  6. andengireng

    andengireng Member

    This is how to make Channel. Channel drawing facilities are usually available on the trading platforms provided by brokers, including on the Metatrader platform. On the Metatrader platform, the channel appears as one of the options that can be inserted. just go to Insert--> Channel on your MT4
     
  7. broforex

    broforex Member

    Thank you, it is very helpful, so can you explain more about Channel? I am new in forex trading, maybe I can use it to gain some profit in my trading activity, thank you.
     
  8. NewbieTrader

    NewbieTrader Member

    bro, as you can see here, he already explained a little about what channel is. i'm not sure if there's any other special thread to help you understand about channel, you can go search the forum :)

     
  9. broforex

    broforex Member

    For those of you who really like the trendline, but don't like lines, then you can take advantage of this one indicator. This indicator can automatically set when the trendline must be replaced by a new one or when it must be maintained until a valid new line appears.
     
  10. broforex

    broforex Member

    To apply a channel to a price chart, you simply click on the Linear Regression option, then click on the high and low levels that can be found on the chart
     
  11. liafatlouie

    liafatlouie Member

    Nice info, very helpful to me. thank you for sharing, Sir :)
     
  12. broforex

    broforex Member

    There are no standard conditions in making a channel, but the steeper the angle of the channel you make, the more unreliable or less valid. This is because the pattern of price movements that rise or fall sharply will be prone to break or breakout on the channel that you make.
     
  13. Tengkorakfx

    Tengkorakfx Active Member

    Well, FreshForex has it's own telegram channel for giving more information regarding the Forex trading along with incoming high impact news as an alert
     
  14. broforex

    broforex Member

    Forex traders are required to have the ability to read the direction of currency price movements so that he can avoid losses when trading. Not only that, if you are able to predict where the price of the currency will move next, you can get profits consistently. This is what makes analysis a necessity before making a decision to enter or exit the forex market.
     
  15. broforex

    broforex Member

    Have you ever had difficulty using forex technical analysis?
    Relax, you are not alone as some traders often say that "technical analysis is quite difficult to use". Technical analysis is considered to have more tools than fundamental analysis.
     
  16. liafatlouie

    liafatlouie Member

    There are many indicators that influence my analysis. What indicators do you usually use?
     
  17. broforex

    broforex Member

    I usually using trendline and breakout, I think that is the easiest way to get some profit in forex market. I suggest you to trading using swing trading (long TP and SL point) it will keep your balance safe.
     
  18. liafatlouie

    liafatlouie Member

    OK, Sir, thanks for the explanation. If I look at other traders' videos, it seems like a lot of indicators are being used. In my opinion, the simpler the easier it is to read the market.
     

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