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Descending Channel Pattern
🔅A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels.
🔅The descending channel pattern is also known as a “falling channel” or “channel down“.
🔅A descending channel looks similar to the Rectangle pattern, but the difference is that the descending channel slopes down.
🔅In the case of a Descending Channel chart pattern, the stop loss should be placed at the previous low of the pattern.
🔅The limitation for the target will be the previous resistance level which was formed before by the price action.
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Descending Channel Pattern
🔅A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels.
🔅The descending channel pattern is also known as a “falling channel” or “channel down“.
🔅A descending channel looks similar to the Rectangle pattern, but the difference is that the descending channel slopes down.
🔅In the case of a Descending Channel chart pattern, the stop loss should be placed at the previous low of the pattern.
🔅The limitation for the target will be the previous resistance level which was formed before by the price action.
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📌 #C98/USDT (SHORT ) ☑️
✴️ WeTrade :: Signal Update ✴️
Crypto name :: #C98
📅 Signal added :: 18-06-2023
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✅ Target (1) ✅
✅ Target (2) ✅
✅ Target (3) ✅
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✴️ WeTrade :: Signal Update ✴️
Crypto name :: #C98
📅 Signal added :: 18-06-2023
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✅ Target (1) ✅
✅ Target (2) ✅
✅ Target (3) ✅
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🕐 Duration :: 05 Hrs & 20 Mins
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