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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 ✌
I wanted to share this chart because it’s almost an ideal Rectangle. Highs and lows alternate perfectly and we got another ideal Rectangle which alerted us about the most probable breakout side.
So, everything seems great BUT:
if you look at the whole chart of Kemira (see weekly or monthly), it' a mess! It is telling us that it doesn't like "trending" at all (on daily or higher time frame) so be careful and very tight with your stops if you are considering this opportunity;
be aware that the last friday candle was due to earnings release so its reliability is much less than usual;
🔎🔎🔎 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 ✌
I wanted to share this chart because it’s almost an ideal Rectangle. Highs and lows alternate perfectly and we got another ideal Rectangle which alerted us about the most probable breakout side.
So, everything seems great BUT:
if you look at the whole chart of Kemira (see weekly or monthly), it' a mess! It is telling us that it doesn't like "trending" at all (on daily or higher time frame) so be careful and very tight with your stops if you are considering this opportunity;
be aware that the last friday candle was due to earnings release so its reliability is much less than usual;
- Pattern Class: 🌕🌕🌕🌕🌕
- Target area: 11.70
- Breakout area below: 12.60
🔎🔎🔎 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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