#BreakoutTradingStrategy

Formation and Breakout: The descending channel is well-defined, indicating a corrective phase following an impulsive move. The breakout above the channel suggests a potential reversal or continuation of the prior trend, which appears bullish.

Entry Timing: You entered the trade after the breakout from the descending channel. This entry aligns with a strategy to buy at the break of a corrective pattern, capitalizing on the resumption of bullish momentum.

Resistance Zone (Blue Area):

Initial Resistance Encounter: The blue horizontal line represents a resistance zone where price consolidated and failed to break higher on the first attempt. This is a good spot to watch for confirmation of a breakout or reversal.