Ascending Channel
DEFINITION of Ascending Channel
An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trendline that connects the swing lows, and an upper channel line that joins the swing highs. The pattern’s opposite counterpart is the descending channel.
BREAKING DOWN Ascending Channel
Within an ascending channel, price does not always remain entirely contained within the pattern’s parallel lines but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel can signal a continuation of the move higher, while a breakdown below an ascending channel can indicate a possible trend change.
Ascending channels show a clearly defined uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown.
Trading the Ascending Channel
Support and Resistance: Traders could open a long position when a stock's price reaches the ascending channel’s lower trendline and exit the trade when price nears the upper channel line. A stop-loss order should be placed slightly below the lower trendline to prevent losses if the security’s price abruptly reverses. Traders who use this strategy should ensure there is enough distance between the pattern’s parallel lines to set an adequate risk/reward ratio
here in Etheruim/USD i spotted the acceding channel and i believe that this patten gonna drive us to the upside soon
even we can breakout from it for continuation upward moves ..
breaking down this channel will be your stop loss ..
Targets set already on chart .. i believe we can touch the 217 as a mid term investment idea ,, 255$ and 300$ EOY
Investment and financial products and services involve substantial risks. You should carefully consider these risks before investing in or purchasing any financial product or service. In particular, you should carefully review and consider all risk disclosures that are provided for any investment or financial products and services.
and what you have seen in my chart is only my own opinion and not considered as financial advise
do your own research before investing in any cryptocurrency coins or stock market .
Good luck
DEFINITION of Ascending Channel
An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trendline that connects the swing lows, and an upper channel line that joins the swing highs. The pattern’s opposite counterpart is the descending channel.
BREAKING DOWN Ascending Channel
Within an ascending channel, price does not always remain entirely contained within the pattern’s parallel lines but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel can signal a continuation of the move higher, while a breakdown below an ascending channel can indicate a possible trend change.
Ascending channels show a clearly defined uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown.
Trading the Ascending Channel
Support and Resistance: Traders could open a long position when a stock's price reaches the ascending channel’s lower trendline and exit the trade when price nears the upper channel line. A stop-loss order should be placed slightly below the lower trendline to prevent losses if the security’s price abruptly reverses. Traders who use this strategy should ensure there is enough distance between the pattern’s parallel lines to set an adequate risk/reward ratio
here in Etheruim/USD i spotted the acceding channel and i believe that this patten gonna drive us to the upside soon
even we can breakout from it for continuation upward moves ..
breaking down this channel will be your stop loss ..
Targets set already on chart .. i believe we can touch the 217 as a mid term investment idea ,, 255$ and 300$ EOY
Investment and financial products and services involve substantial risks. You should carefully consider these risks before investing in or purchasing any financial product or service. In particular, you should carefully review and consider all risk disclosures that are provided for any investment or financial products and services.
and what you have seen in my chart is only my own opinion and not considered as financial advise
do your own research before investing in any cryptocurrency coins or stock market .
Good luck