UPSIDE POTENTIAL IN GUJALKALI ASCENDING CHANNEL BREAK
An ascending channel is a chart pattern formed from two upward trend lines drawn above and below a price representing resistance and support levels
The ascending channel is also known as a “rising channel” and “channel up“.
The lower line is identified first, as running along with the lows: it defines the trend line. The upper line (the “channel line”) is identified as parallel to the trendline, running along with the highs.
It is a bullish chart pattern defined by a trend line supporting the series of higher lows and a diagonal resistance level connecting the higher highs.
When in the channel, prices are expected to bounce off both upper and lower boundaries; the more such reversals occur, the more reliable the pattern.
If it breaks the upper trendline then we can buy the stock else we sell or short the stock.
this is just educational practice for myself, not investment advice please consult your financial advisor before trading or investing, I am not SEBI registered and not liable responsible for your profit and losses
The ascending channel is also known as a “rising channel” and “channel up“.
The lower line is identified first, as running along with the lows: it defines the trend line. The upper line (the “channel line”) is identified as parallel to the trendline, running along with the highs.
It is a bullish chart pattern defined by a trend line supporting the series of higher lows and a diagonal resistance level connecting the higher highs.
When in the channel, prices are expected to bounce off both upper and lower boundaries; the more such reversals occur, the more reliable the pattern.
If it breaks the upper trendline then we can buy the stock else we sell or short the stock.
this is just educational practice for myself, not investment advice please consult your financial advisor before trading or investing, I am not SEBI registered and not liable responsible for your profit and losses
Comment:
TARGET IS HIT U CAN EXIT OR TRAIL YOUR STOPLOSS