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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...
The Nen-Star pattern is Bearish.
Crooked W.
Valley 2 is lower than valley 1.
Last leg appears to have landed at the 1.272.
It looks like MSI was in the midst of forming a Bull Flag and the CPI report may have interrupted it's completion.
Watching for now.
Price is still above the .236 fib level of the long trend up.
Strong stock.
No recommendation.
ATH 273.65
Cup and Handle pattern on the side on this daily timeframe
The neckline can be seen to be acting diagonally against the cup and handle, which to me satisfies the rules of a cup and handle
Similar positions in Green circles
Potential for a rise that was seen in the earlier green circle, pushing price above the Major Trend line by a lot
There is a sneaky double bottom in both cases (dotted line)
The big Chart pattern is a Descending Broadening Wedge
I can't help myself. I love big base breakouts and they're everywhere. Here's a whole list of stocks that are either breaking out of long term bases or testing long term inflection points. Use multiple time frames to find the bases. Most of them can be found on weekly and monthly charts. Here's the link to the watch list: www.tradingview.com
* Exceptional earnings year-over-year
* Very strong up trend
* High relative strength in the Tech sector
* Pays out dividends
* Breaking out of a cup and handle with higher than average volume
Trade Idea:
* Now's the perfect time to get in as the price is very close to the broken level
* Looking at the weekly char also gives a lot of confidence that this is...
MSI - it is in corrective cycle as WXY and Y is in progress. Sell with stops above 175.60 for target below 157 as NQ starts under performing.
Give thumbs up if you really like the trade idea.
MSI - It in complex correction down after completing impulse C wave up in 4 hr time frame as ABC zigzag up. The down move from 175.54 in 10 min time frame was A down of Y wave and expecting up move as B choppy wave. Sell near 169.50-173 zone with stop level above 175.55 for target zone around 155 as C of Y wave down.
Give thumbs up if you really like the trade idea.
