Channel lines are resembled to trend lines, but in trend lines, you can draw many lines, in channel lines you have two parallel lines. You have to big time frame in order to draw proper channel lines, you will have to find swing high and swing low, if the market is bullish then you will use swing low, and if the market is bearish then you will use swing high.

The channel is an amazine yet frequently ignored chart example and consolidates a few type of specialized investigation to give merchants likely focuses for entering and living exchanges, just as controlling danger. The initial step is to figure out how to identify channels. The subsequent stages incorporate figuring out where and when to enter and exchange, where to put in stop loss order, and where to take profit.