Trading the Ascending Channel
- Entry: In the ascending channel, look for a down-site opportunity only. Never use an ascending channel for an up-site opportunity. It is against the chart nature. Take entry on the confluence of resistance and the upper line of the channel.
- Stop-Loss: Above the resistance.
- Take Profit: Near the middle line of the channel or the next support or according chart structure.
When a breakdown occurs below the support, it signals strong bearish momentum — a chance for breakout traders to enter.
