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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 ✌
This rectangle could reverse the previous downward move.
Prices are not yet firmly above the 200-day EMA and the breakout area coincides with the previous level at 3175, so with a valid breakout, we may not have a worthy risk/reward ratio anymore.
It is also true that compact (tight price range) Rectangle allow us to doubling the target (or even more in some cases). Just be much more careful than usual if you want to consider this opportunity.
🔎🔎🔎 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.
════════════════════════════════
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 ✌
This rectangle could reverse the previous downward move.
Prices are not yet firmly above the 200-day EMA and the breakout area coincides with the previous level at 3175, so with a valid breakout, we may not have a worthy risk/reward ratio anymore.
It is also true that compact (tight price range) Rectangle allow us to doubling the target (or even more in some cases). Just be much more careful than usual if you want to consider this opportunity.
- Pattern Class: 🌕🌕🌕🌑🌑
- Target area: 3330
- Breakout area above: 3160
🔎🔎🔎 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.
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