some constructive criticism:
this channel isn't very good. at least you have two points, but you need more for a 'robust' line. the reason for this being that a line needs only two points to be defined. that means, there will exist an arbitrary line across any two 'peaks' or 'dips'. in your picture, this is exactly what you've done.
for more robust lines, look closely. try to find a line that has three points of contact or more.
hope this helped
--arepo
Hehehe I can see why you think my line isn't really valid based on the chart I shared here, (click the link in my sig if you want my full analysis
) On a three month chart that top line has at least 5 points of contact. Three as support and now 2 as resistance the last two which you can see above. The lower line is one I hoped would be validated (and looks like it is being.) got the fuller picture -- very good analysis, my apologies. very cool how supports become resistances. if you'd like, i've come to similar conclusions about the trend by identifying patterns in the RSI, and William's %R oscillators, you could take a look at my "arepo's" analysis thread.
