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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 bouncing from the bottom, prices are consolidating in the form of a Symmetrical Triangle (weekly chart shown).
The pattern is pretty good but remember that the closest we get to the apex the less reliable the eventual breakout will be. The best range for a genuine breakout is between 60% and 80% (75% best). We are now around 78% so the best thing to see here would be a quite fast breakout.
For a valid breakout we must wait the previous level at 5.60 to be breached.
🔎🔎🔎 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 bouncing from the bottom, prices are consolidating in the form of a Symmetrical Triangle (weekly chart shown).
The pattern is pretty good but remember that the closest we get to the apex the less reliable the eventual breakout will be. The best range for a genuine breakout is between 60% and 80% (75% best). We are now around 78% so the best thing to see here would be a quite fast breakout.
For a valid breakout we must wait the previous level at 5.60 to be breached.
- Pattern Class: 🌕🌕🌕🌑🌑
- Target area: 6.80
- Breakout area above: 5.80
🔎🔎🔎 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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