Channels are used broadly by technical traders to identify and follow the trends of securities over time.
channel is one such charting pattern that technical analysts will use to evaluate the trend of a security.
In general, channels can be used to pinpoint optimal support and resistance levels to buy or sell securities.
Head and Shoulder:
In technical analysis , a head and shoulder pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal.
The head and shoulder pattern is believed to be one of the most reliable trend reversal patterns.