BABA - 2 months HEAD & SHOULDERS CONTINUATION
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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 ✌
AliBaba's trend could continue to the downside.
After a strong decline, price consolidation above the 110 level is taking the form of a small and compact Head & Shoulders.
The target projection from the last decline (blue harrow) coincides with the pattern target itself and both are exactly at the 86.00 previous level which is good.
The pattern is developing so, for the moment, we have just hypothesis.
🔎🔎🔎 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 ✌
AliBaba's trend could continue to the downside.
After a strong decline, price consolidation above the 110 level is taking the form of a small and compact Head & Shoulders.
The target projection from the last decline (blue harrow) coincides with the pattern target itself and both are exactly at the 86.00 previous level which is good.
The pattern is developing so, for the moment, we have just hypothesis.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 87.00
- Breakout area below: 106.00
🔎🔎🔎 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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