Tutorial - Ascending Channel BREAKOUT Pattern

"last week here on this New Zealand dollar pair we ended up capturing not only one not only two but three bearish price action days and we did this by utilizing one very simple yet effective consolidation breakout pattern which banked us in so far over 100 pips on this trade"

"on the Aussie dollar we actually have the opposite situation as the one we were looking at on the New Zealand dollar... here on the Aussie dollar we're looking for the opposite of that we have a market that's been in a downtrend and since being in this downtrend we've been creating impulsive moves this was also a really impulsive move down but now what we're looking for is this period of consolidation that you can see coming in here we still get a lower low so still in a downtrend here"

"we're creating this downward sloping bearish channel and we're waiting for a breakout of that channel to give us a possible indication of a reversal out of this market and as you can see here on the Aussie dollar that's exactly what ended up happening"

"if we go ahead and scroll the chart sideways you can see that this market had a pretty nice rally directly after this period of consolidation in this downward sloping channel"

"this specific pattern pushed the market down over 120 pips"

"when I came to understand and accurately use these consolidation breakout patterns it really helped to improve my trade"

"this consolidation breakout pattern and if you look on the chart here you can see this ascending period of consolidation and this is the pattern we're gonna be talking about today that I'm gonna be teaching you guys how to utilize in the markets"

"what this gives us a hint towards is that this period of consolidation could lead to this market reversing and breaking into new lows starting the head and lower the reason we expect that's because this market has lost momentum"

"what we're looking for there's a market to be in trend and we'll talk a little more about that in a second and then this market start creating a period of consolidation before a possible breakout down again"

"and once created that support level that supporting trendline when broken can be a reason to enter that trade right we can enter on the breakout"

"another way we could do this is waiting on the market to pull back up into the trend line or previous level of structure looking left and then enter the trade there on a less aggressive approach"

"another way you could trade this is just by aggressively entering possibly on a candlestick pattern at the top of that move at the top of the move of consolidation"

"if we were in a downtrend utilizing the ascending or descending channel we would be looking for a market that was previously in a downtrend and then begins to consolidate down instead of making impulsive moves"