Trading the Descending Channel
- Entry: In the descending channel, look for upper site opportunity only. Never use a descending channel for a down-site opportunity. Its against the chart nature. Take entry on support and confluence of the lower line of the channel.
- Stop-Loss: Just below support.
- Take Profit: Near the middle line of the channel or the next resistance or according to chart structure.
If the price breakout above resistance , it indicates stronger bullish sentiment — a chance for breakout traders to enter.
