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A trading channel occurs when the market is trending but seems to stay within a channel.

Trading Channel

Trading Channel

The lines of support and resistance are not horizontal, but this is still consolidation. We trade from support to resistance. The channel can also be very steep.
trading channel

trading channel

It is important to draw the trading channels on your charts and keep an eye on them. They will show you when to expect a trend reversal. Also, pay attention to when the candles break out of the trading channel.

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