Ascending Channel Pattern
1. What is the Ascending channel pattern?
- Price trade within the range in an up trend, it forms a higher high and higher
low.
- The channel provides support and resistance
- Until prices continue to advance trade within the channel
- Volume Activity turns stagnant
2. How to trade it?
- If it breaks above the resistance line, extrapolate the channel range from point of the breakout point.
- If it breaks down the support line, extrapolate the channel range from point of breakdown point.
- Price trade within the range in an up trend, it forms a higher high and higher
low.
- The channel provides support and resistance
- Until prices continue to advance trade within the channel
- Volume Activity turns stagnant
2. How to trade it?
- If it breaks above the resistance line, extrapolate the channel range from point of the breakout point.
- If it breaks down the support line, extrapolate the channel range from point of breakdown point.
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