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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 ✌
Nice pattern at the all-time high and along the 200 Days EMA.
The strongest previous level to deal with is quite close to the Target area so it will not be big issue.
Beware of earning release on 26th january.
Didactically we have to point out a thing here. If we project the two boundary lines until they merge into the triangle apex, we will see that this possible breakout is taking place at around 27% of the pattern when the best area is around 75% (60%-80% usually). This last rule is not as important as in the past. Nowadays this principle is something to firmly consider when the breakout is too close to the triangle apex rather than when it happens too early but it is still something to know and to be aware of specially when we are facing about a reversal pattern.
Entry Point and Initial Stop Loss depends on your Trading Plan Tactics and Money Management rules.
🔎🔎🔎 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"
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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 ✌
Nice pattern at the all-time high and along the 200 Days EMA.
The strongest previous level to deal with is quite close to the Target area so it will not be big issue.
Beware of earning release on 26th january.
Didactically we have to point out a thing here. If we project the two boundary lines until they merge into the triangle apex, we will see that this possible breakout is taking place at around 27% of the pattern when the best area is around 75% (60%-80% usually). This last rule is not as important as in the past. Nowadays this principle is something to firmly consider when the breakout is too close to the triangle apex rather than when it happens too early but it is still something to know and to be aware of specially when we are facing about a reversal pattern.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: see chart
- Breakout area: see chart
Entry Point and Initial Stop Loss depends on your Trading Plan Tactics and Money Management rules.
🔎🔎🔎 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.
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