When a parallel channel earns its keep

A channel is more than a trendline with a twin. The upper rail should be a genuine parallel, not a line bent to kiss every spike. In our intensive we measure the vertical distance at a clear swing and project it — then we ask whether price has returned to both boundaries at least once without forcing the geometry.

If only the lower rail has been touched repeatedly while the upper floats in empty space, you may simply have a trendline with wishful thinking above it. That is still valuable information: trade plans can lean on the respected rail without inventing a corridor.

False pride in a perfect parallel is a common habit. We would rather see an imperfect channel that price actually respects than a textbook drawing that never meets the market again.