How to Trade Ascending Channel

An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. An ascending channel is used in technical analysis to show an uptrend in a security’s price. It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively. Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals.

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