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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 ✌
Quick analysis today but I still wanted to alert you about some possible set ups.
In general, remember that when main indices (S&P and NDX in this case) are in such a vertical no-sense move, many stock which were ready to attempt a breakout could easily accelerate just to follow the index burst but being still weaky in themselves. This means that a sudden correction on those indices could easily cause the hitting of your initial stop loss and then just recover and pissing you off. So, be careful in deciding which action you are going to take based on this specific situation in terms of how many opportunities, risk amount and stop loss placement.
This great pattern is taking place along the 200 days EMA and it is now dealing with the very strong previous level at 23.10.
A valid breakout would breach that level and all the those which formed the pattern.
🔎🔎🔎 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 ✌
Quick analysis today but I still wanted to alert you about some possible set ups.
In general, remember that when main indices (S&P and NDX in this case) are in such a vertical no-sense move, many stock which were ready to attempt a breakout could easily accelerate just to follow the index burst but being still weaky in themselves. This means that a sudden correction on those indices could easily cause the hitting of your initial stop loss and then just recover and pissing you off. So, be careful in deciding which action you are going to take based on this specific situation in terms of how many opportunities, risk amount and stop loss placement.
This great pattern is taking place along the 200 days EMA and it is now dealing with the very strong previous level at 23.10.
A valid breakout would breach that level and all the those which formed the pattern.
- Pattern Class: 🌕🌕🌕🌕🌕
- Target area: 27.50
- Breakout area above: 23.60
🔎🔎🔎 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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