Note this channel is my own creation the Bernoulli Channel. It contains normal trading moves by channel line extensions, which also reflect the prevailing trend as a sloped channel. Methinks this makes it superior to Fibonacci lines which are horizontal, and thus miss the point that there are tailwinds and headwinds on the market.
My early contention that we will have Currency Wars seems to be playing out. No major currency is ramping or tanking in any way, but trading fluctutations on a mostly flat line.
Here is Bucky. Note the bounce off the B100 channel line, and corresponding take down in Silver price, losing 5% in a day. Metals are highly gamed in the "electronic" metal market.
And below is a bear flag on my Risk on/Risk off indicator the NZD/JPY. This breaking down would support US equities down also.
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Insightful and Useful Comment!