MNST - 19 months H&S and 5 months RECTANGLE both 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 ✌
On the left-hand side, we can see the weekly scenario which shows a massive Head & Shoulders Continuation taking place at the all-time high and along the 200 Days EMA. It perfectly broke out the psychological level at 100.00 at the end of the last year and it has been consolidating since then in the form of a Rectangle which seems now to be ready to attempt a breakout and resume the uptrend (right hand side daily chart). Two possible targets ahead.
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 ✌
On the left-hand side, we can see the weekly scenario which shows a massive Head & Shoulders Continuation taking place at the all-time high and along the 200 Days EMA. It perfectly broke out the psychological level at 100.00 at the end of the last year and it has been consolidating since then in the form of a Rectangle which seems now to be ready to attempt a breakout and resume the uptrend (right hand side daily chart). Two possible targets ahead.
- 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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