Was the VIX in a Channel This Whole Time? 7/14/2020

This is the VIX since this whole bear market began. I've noticed that the local tops and bottoms seemed a little too neat and orderly for a volatility index.

I played around the angles. I see a channel that VIX was in. The bottom green dashed line was Nov 2018 to Jan 2019's resistance. Now, it's been support in June and July.

Once it escapes that channel, the VIX skyrockets. I put a huge sell zone because the VIX tends to fizzle out fast. It's better to take profit in a sell zone than holding and hoping.

I also placed the buy zone where it consolidates below. Whenever the VIX is in the buy/green zone, pullbacks were within a week.

If this channel holds, this will help volatility traders prepare for some swing trades... or it can help people predict pullbacks easier.

Either I discovered something mind blowing... or it could just be my selective autism.