It’s easy to say that a price break in the Ascending channel is not possible, given the recent OKEx scandal. However, it can be said that a breakout in this channel could still occur regardless of the current controversy surrounding OKEx.
The main driver behind the rise in the Ascending channel price in the last couple weeks has been the rising demand from traders and investors who are starting to realise the potential of this channel as a trading platform. If you’ve been living under a rock for the last few years, this may not sound that interesting, but if you think about it this channel does have many trading advantages. As its name implies, the Ascending channel is used to buy and sell an underlying security in one direction.
A breakout in the Ascending channel is a profitable trading strategy and could lead to large profits and gains, if executed properly. However, bear in mind that there are plenty of ups and downs involved in such trading, which means that it could take a little time before a breakout happens and takes hold. For this reason, it’s important that you start looking for trading opportunities before the market makes it move. And if you start looking for them now, then you should get a head start on the market, making it easier to trade when it gets back to normal.
The key to successful trading in the Ascending channel is that it works best if you are able to read the charts and recognise the points in time when the price moves in one direction. The problem is that this is difficult to do for some people, who tend to look at the chart in isolation. The best way to overcome this problem is to use a technical indicator to guide you in your trades.
You may be familiar with technical indicators. These are tools designed to help investors identify trend patterns. They usually include moving averages (MACs), oscillators, support levels, resistance levels, and overlays.
Traders who know how to use these tools to their advantage are often able to see the potential for a breakout in the Ascending channel. If you want to profit from such a breakout, it’s important that you read up on the technical analysis and learn about the technical indicators. you use to trade in the channel.
