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RC Cola & Channels
To draw channels - use the LRC function built into MT4 on a M15 chart. The channels will not be accurate on any other time frame due to the number of data points utilized for the best fit calculations. On the parameters select "ray" which will project the LRC lines forward to the new day and beyond. Keep trading RC and drawing these channels and see how predictive they become for your targets. Many ranging days end up with 1-3 touches. Often the PA wil end up on the median at the end of the day. Today's NFP left the price on the bottom of the channel and price continued to track the channel down for the last few hours. Old channel is in orange - potential new channel that only worked in a few spots in blue. currently the orange channel is the best.
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