══════════════════════════════ 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 careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER "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.
any changes in technical view for 2024 outlook? the sideway consolidation seems longer than expected by weakening JPY and declining China demands
TheArtOfCharting
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Hi @chasingequity and thanks for your comment. I'm not a macro/fundamental trader so I'm not the right person to give any opinion about the impact of “weakening JPY and declining China demands”. The only answer I can give is my opinion based solely on what I see on the chart from a Classical Charting perspective. From this point of view I can say that: - the Ascending Triangle never broke out (based on what I identified as a breakout area for me), prices went back into the pattern and also broke its lower boundary so invalidating it; - since I look only for Classical Chart Patterns and I act only upon them, the only thing I can say is that I can not see any well defined pattern developing at the moment and therefore, I personally would not take any action;