See the sideway channels, i can see an uptrend ? i am confused

It’s a confusing subject.

I wouldn’t have drawn the lines where you have (especially the first down channel, as you’ve called it).

The important thing to know is that you should always use the ends of the wicks to position the lines. The ends of the wicks demonstrate price rejection. Price rejection means support/resistance. Support and resistance are what these lines are supposed to display. That’s the point of them. So to cut wicks off doesn’t make much sense.

Wicks demonstrate highs and lows. These are objective and market-driven, unlike opens and closes which are of course subjective and defined by the user in setting his chart parameters.

I trust only horizontal channels, personally, not diagonal ones, which I think are interpretative and unreliable and only show you anything worth showing with the benefit of hindsight.

Your last one isn’t long (or accurate?) enough to be called a channel, anyway, IMO.

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These things are all specific to timeframes specified by the user.

It’s normal for forex pairs to trend in one direction in a given timeframe while either being sideways or even trending in the opposite direction on another timeframe.

They’re not like the indices which tend gradually to trend upwards most of the time.

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I wouldn’t call it an uptrend. It’s more like wait and watch mode. If it breaks above 0.7117, maybe bulls are back. If it drops below 0.7000, then bears might take over. Just an opinion! Don’t take it as advice.

hi , thanks for this clarification, this picture is actually from the baby pips forex course itself and this was also my thoughts. But anyway thanks.

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I wondered where it was from.

I think perhaps just illustrating, broadly, what “rising channels” and “falling channels” and “sideways channels” roughly look like, and not intended to be taken too literally? :slight_smile:

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It’s not an uptrend anymore.
It was during the first and third channels (uptrend phases), but now it’s consolidating. You’d want to wait for a breakout above or below the sideways zone (around 0.7117 or 0.7000) to see if a new trend forms.

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Now, here we have it! This is where witchcraft falls apart. :wink:

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