TheArtOfCharting

UPS - 9 months HEAD & SHOULDER CONTINUATION

Long
NYSE:UPS   United Parcel Service, Inc
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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 ✌

Second great pattern in a row for United Parcel Post.
After a target reached by a Double Head & Shoulders
Failure which right shoulder took the form of an
Ascending Triangle (Fig.1), here we have an almost
9 month long H&S Continuation where the right
shoulder is also a Rectangle (Fig.2). A thing to be
aware here is that the breakout has taken place
due to earnings release so it has to prove to be
a true pattern breakout and not only an earnings
volatility spurt.
  • Pattern Class: 🌕🌕🌕🌕🌕
  • Target area: 260.00
  • Breakout area above: 227.00
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"

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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.

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