First Pullback after Breakout of Descending Channel in Uptrend
This is a simple setup. Find a stock that is in an uptrend, wait for a correction that forms a descending channel, then go long on the first pullback after a breakout of the descending channel. Go long on a pullback to the "Entry" zone, which is a confluence of the ascending channel (red) within the larger ascending channel (black) and the descending channel. "Stop" at a close below the most recent swing low. "Target" at top of larger ascending channel.
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