Any1 use short term channels/trendlines?

[techno791]

I was bored this morning since Cable had a werid day of not playing by MY rules, so I went to the 1 and five minute charts to see how different things look for short term stuff.
I've seen plenty of charts with all these channels drawn. I never liked them for short term other than a loose guide because I always get the false-breakout or the lines just aren't that strong on the short terms.
Anyone do this on the 1 or 5 minute for any usefullness? With the spread I don't expect a lot of opportunities.

[mister_doodi]

I did a 10 lot trade for 5 pips + 2pip spread sunday on the 5 minute chart. I don't see what I like that much on the 5 min chart that often but when I do it's quite reliable.

[mister_doodi]

FXCM is predicting a bounce. Don't know how reliable they are but it makes sense.

[techno791]

I was just bored and looking for an alternative or something to do on the pair. If I have a system for all the time periods and conditions, I should be covered, than waiting for whatever.

In about seven minutes I'm going to get a wicked shooting star candle. And we're on my resistance from 3 days ago, bull looks week. I was surprised it went up yesterday.
I may still be working on all this to get a pip, but at least I can grasp some of the big pictures on the dailys! Almost half the time that is.
If tomorrow is a down day, I bet Thrusday will be too.

I looked it up, it said shooting star. I have a long wick on top, and a short base. Yesterday was an upday.

All analysis is on cable...I'll be looking at crosspairs now for some "action".

[techno791]

Originally Posted by techno791

I was just bored and looking for an alternative or something to do on the pair. If I have a system for all the time periods and conditions, I should be covered, than waiting for whatever.

In about seven minutes I'm going to get a wicked shooting star candle. And we're on my resistance from 3 days ago, bull looks week. I was surprised it went up yesterday.
I may still be working on all this to get a pip, but at least I can grasp some of the big pictures on the dailys! Almost half the time that is.
If tomorrow is a down day, I bet Thrusday will be too.

I looked it up, it said shooting star. I have a long wick on top, and a short base. Yesterday was an upday.

All analysis is on cable...I'll be looking at crosspairs now for some "action".

I should get a big account that can handle swings, or get my act together. Very bearish candle to end the day. Unless 3 releases tomorrow mess around, Thursdays going to be a short also for Cable.