AMR - 10 months ASCENDING TRIANGLE
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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 ✌
After an impressive, almost vertical, one and a half year up move (see weekly chart), price has been consolidating for last ten months and now seems ready for the next move up. This textbook Ascending Triangle is taking place at the all-time high and is perfectly supported by the 200 Days EMA. Prerequisites seems to be great but, as always, this doesn't mean anything about how the trade could end up so let's see how it unfolds.
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"
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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 ✌
After an impressive, almost vertical, one and a half year up move (see weekly chart), price has been consolidating for last ten months and now seems ready for the next move up. This textbook Ascending Triangle is taking place at the all-time high and is perfectly supported by the 200 Days EMA. Prerequisites seems to be great but, as always, this doesn't mean anything about how the trade could end up so let's see how it unfolds.
- 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.
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