Ascending Channel
a.k.a. Rising channel, Up channel
Two parallel upward-sloping lines that contain price as it makes higher highs and higher lows.
In plain English
Two parallel upward-sloping lines that contain price as it makes higher highs and higher lows.
An ascending channel is a rising staircase with walls. Draw an ascending trend line under the higher lows, then a parallel line across the higher highs. Price bounces between them as it climbs.
Traders may look to buy near the lower wall and take profit near the upper one. A clean break below the lower line warns the uptrend is losing its legs. Compare the flat horizontal channel and the falling descending channel.
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