Channel pattern with ascending trendlines [ chart from 1/12]

Channel pattern with Ascending (Bullish) trend lines

Long established channels like one in above chart, provide great swing trade opportunity. You can go long when prices rebound from lower trend line and exit as it approaches upper trend line. Tight stops must be used while trading range bound channel. In this case, Lower trend line will act as a stop price.

Reaching upper line of the channel.

Reaching upper line of the channel.

V [VISA] reached in the profit taking zone on 2/03 with a gap.

If it breaks out of channel from here and closes above 87, next profit target will be 95-98.