By ITMS News on March 24th, 2010 5:00pm Eastern Time
Note the following example where a channel had been forming on the SPY 10 minute chart. It was a nice downward channel that continued to bounce off the lower channel trendline and then hit the upper. These patterns break to the upside about 90% of the time and can be used as a great trading method for making money. The key is to understand that once the break is made, the technicals signal a move, and traders pile on the trade. This sent the SPY spiking higher like the below example. Gaining a solid understanding of channels and how to trade them like the Pros will advance your trading, and increase your profitability!
Learn the channel patterns and make money!
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