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Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a 14 months consolidation range prices seems to have chosen the upper side. Such a big pattern has pros and cons. Generally speaking, a breakout of a well-defined large pattern like this deserve some more trust but, at the same time, identifying the precise moment to jump in is more difficult. It's always a matter also of proportion... Proportion of the pattern compared to the previous trend or to the overall scenario and proportion of the breakout compared to the price compression (price interval) within the pattern. If prices go towards the target, keep in mind that we will have to deal with the 160.00 previous level.
🔎🔎🔎 ALWAYS REMEBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
════════════════════════════════
Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
═════════════════════════════════
Hello Traders ✌
After a 14 months consolidation range prices seems to have chosen the upper side. Such a big pattern has pros and cons. Generally speaking, a breakout of a well-defined large pattern like this deserve some more trust but, at the same time, identifying the precise moment to jump in is more difficult. It's always a matter also of proportion... Proportion of the pattern compared to the previous trend or to the overall scenario and proportion of the breakout compared to the price compression (price interval) within the pattern. If prices go towards the target, keep in mind that we will have to deal with the 160.00 previous level.
- Pattern Class: 🌕🌕🌕🌕🌕
- Target area: 175.00
- Breakout area above: 156.00
🔎🔎🔎 ALWAYS REMEBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
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