Markets do not move in a straight line forever. Most of the time, price rotates between periods of compression and periods of expansion. One of the clearest ways I track those transitions is through the relationship between higher-timeframe doubles, over/under levels or focus zones, and trend structure.

What happens when thousands of $SPY phantom prints cluster in one zone? A breakdown of how price reacted, revisited, and ultimately resolved the area.

While they may appear similar at first glance, they are calculated differently. Keltner channels typically use an Average True Range (ATR) to measure volatility around a moving average, while Bollinger Bands use standard deviation to determine how far price is moving from its average.