Channel

A channel, or channel lines, is the addition of two parallel trendlines that act as strong areas of support and resistance. The upper trendline connects a series of highs, while the lower trendline connects a series of lows. A channel can slope upward, downward or sideways but, regardless of the direction, the interpretation remains the same. 

THE IMPORTANCE OF TRENDS  

It is important to be able to understand and identify trends so that you can trade with, rather than against, them. There are two important sayings in technical analysis - "the trend is your friend" and "don't go against the trend," illustrating how important trend analysis is for technical traders.   

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