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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 ✌
In my previous post (Mar 7, 2022) I said prices were at a crucial point and that I was hoping to see some action around the lower boundary before the beginning of the next move. We got the action before and after the boundary violation and this week, after a re-test, prices made a quite strong down move.
If I were interested in this pair, I would trade this pattern not as a usual Swing-trade but as a Position-trade instead, remembering myself that my best ally would be patience. If prices go towards the target, keep in mind that we will have to deal with the 0.9600 previous level.
I know that some "fundamental guys" consider it almost impossible but from a Classical Chart perspective (the only one I care) the target is around 0.9000.
🔎🔎🔎 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 ✌
In my previous post (Mar 7, 2022) I said prices were at a crucial point and that I was hoping to see some action around the lower boundary before the beginning of the next move. We got the action before and after the boundary violation and this week, after a re-test, prices made a quite strong down move.
If I were interested in this pair, I would trade this pattern not as a usual Swing-trade but as a Position-trade instead, remembering myself that my best ally would be patience. If prices go towards the target, keep in mind that we will have to deal with the 0.9600 previous level.
I know that some "fundamental guys" consider it almost impossible but from a Classical Chart perspective (the only one I care) the target is around 0.9000.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 0.9000
- Breakout area below: 1.0300
🔎🔎🔎 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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