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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 stock offered a couple of nice opportunities in the past that worked out well but now we have a nice pattern for a difficult trade.
When the two boundaries have quite different slopes as in this case, I certainly prefer to see a breakout on the less sloping side. Furthermore, I would be more comfortable to consider this pattern as a continuation and not a reversal one.
Nonetheless, prices are now attempting a breakout on the downside.
Keep in mind that the first difficulties in trading Symmetrical Triangles come from the previous levels that have formed the pattern itself.
🔎🔎🔎 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 ✌
This stock offered a couple of nice opportunities in the past that worked out well but now we have a nice pattern for a difficult trade.
When the two boundaries have quite different slopes as in this case, I certainly prefer to see a breakout on the less sloping side. Furthermore, I would be more comfortable to consider this pattern as a continuation and not a reversal one.
Nonetheless, prices are now attempting a breakout on the downside.
Keep in mind that the first difficulties in trading Symmetrical Triangles come from the previous levels that have formed the pattern itself.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 3110
- Breakout area below: 3565
🔎🔎🔎 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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