═════════════════════════════════ 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 breakout, prices are consolidating at a previous small minor-high level (9.90). The consolidation has taken the form of a compact Head & Shoulders Continuation. I would not use this eventual breakout to establish a main position on this crypto but I would only evaluate the opportunity to increase my position if I were already at market. If prices go towards the target, keep in mind that we will have to deal with the previous level at 7.00
Pattern Class: 🌕🌕🌕🌕🌕
Target area: 4.40
Breakout area below: 9.30
Entry Point and Initial Stop Loss depends on your Trading Plan Tactics and Money Management rules.
🔎🔎🔎 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. ════════════════════════════════
@trytofeelpositive, we both are now looking at 7.00 area for different reasons and purposes... I'm always glad to see how different approach can have something in common.. thanks