What Are Ascending Channels
An ascending channel is the statistically range bound price action of an ascending price trend contained between upward sloping parallel lines.
Higher highs and higher lows characterize the ascending/uptrend price pattern.
Technical analysts draw an ascending channel by manually drawing a lower trendline that connects the swing low pivot points, and an upper channel line that joins the swing high pivot points, or using a channeling drawing tool.
Some trading software or charting services can automatically plot ascending price channels.
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