The price channel pattern is one of the simplest, easy to recognize chart patterns I use. This continuation pattern slopes up (bullish) or down (bearish) while bouncing off the upper and lower trend lines. The upper trend line marks resistance and the lower trend line marks support. What I really like about this pattern is that it can be traded a variety of different ways. You could trade it short term, buying on the bottom trend line support and selling at resistance or you could also "buy and hold" the pattern. Regardless of which you choose, a key point you want to remember is to buy on specific injection points, or points where the price touches the bounding support and resistance levels. Price channels will not last forever, but the underlying trend remains in place until proved otherwise.