══════════════════════════════
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 ✌
Great pattern at the all-time highs.
This pattern shows a quite belabored right shoulder that took the form of a Descending Triangle and gave time to the 200 Days EMA to establish downward before the eventual breakout.
We can treat this pattern as a daily or weekly one, both options are valid to me. In any case I would wait till price break down below the previous level at 6380 and I would expect a pullback to the neckline, maybe also a "hard re-test" of it (price re-enter the pattern before falling).
Beware of earnings release on February the 3rd.
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.
═════════════════════════════
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 ✌
Great pattern at the all-time highs.
This pattern shows a quite belabored right shoulder that took the form of a Descending Triangle and gave time to the 200 Days EMA to establish downward before the eventual breakout.
We can treat this pattern as a daily or weekly one, both options are valid to me. In any case I would wait till price break down below the previous level at 6380 and I would expect a pullback to the neckline, maybe also a "hard re-test" of it (price re-enter the pattern before falling).
Beware of earnings release on February the 3rd.
- 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.
═════════════════════════════