As part of articles series about Technical Analysis , I'll explain how to draw a price channel on chart
I talked in previous articles about
Price Channel Definition
Price Channel is Parallel line is drawn on the other parallel side of the trend line whether the trend is bullish or bearish ,it must drawn at the same time that the trend line was drawn
Kinds of Price Channels
Up Channel -
Down Channel -
Sideways Channel -
This Tool is provided in MT4 , you can use it by clicking on insert then channels then standard deviation
Price Channels kinds
? How to draw up channel
After you draw up trend line on the currency chart ,draw parallel line for up trend line where it be above of the up trend line parallel manner ,it drawn by connecting the highest points with each other
? How to draw down channel
After you draw down trend line on the currency chart ,draw parallel line for down trend line where it be under of the down trend line parallel manner ,it drawn by connecting the lowest points with each other
? How to use the price channel
When the prices touch the down trend line of the up channel ,these areas used as buying area and when the prices touch the up trend line of the down channel that it used as selling area
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