Day: April 21, 2013

Classic Ascending Channel on Daily Cable Chart

A rather promising ascending channel has formed on GBP/USD D1 chart. More than a month long, it fits the parallel border lines pretty accurately, with enough touches both on the upper and the lower one. The pattern appears at the end of a sharp decline, confirming its continuation nature. The chart screenshot shows the channel borders in yellow, potential breakout entry points in cyan and the take-profit lines in green. I will trade only on a bearish breakout […]