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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 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"
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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 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.
He is right in saying there is a 16 years Rectangle also in place here.
I want to use this pattern to show you what I mean with "trade concept". This is a massive 16 years long monthly pattern and I don't trade monthly patterns. It also rapresents two third of the entire stock life. In my opinion, most of monthly patterns are simply too large to be seen as swing trade, I look at them basically as long-term trades, which are not part of my trading plan at the moment.
This doesn't mean they are not useful to outline what could be the trend for the next months or even years.
If a valid breakout occurs, this scenario suggests me the "concept" to be long-term bullish on this stock. This means to keep it constantly under my radar to follow the eventual uptrend by trading only bullish pattern . I could consider also smaller or slightly worse patterns than usual since I would consider myself in favor trend for many months ahead.
The fact that I don't trade monthly pattern doesn't mean that this could not be considered an opportunity to establish a pure Position Trade or even a Buy & Hold one if these fits your style.
This is why I posted only the Ascending Triangle (which also is quite long). The fact that it developed around the breakout area of the massive Rectangle, it adds value to it in my opinion. By the way the two targets are almost at the same level. In any case this is a scenario in which a lot of patience is a must.