FOLD - 16 months HEAD & SHOULDERS BOTTOM
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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 ✌
During established bear markets like this one, all bullish potential patterns we spot, although they are didactically good ones, they are weak by definition since their destiny is strictly related to market direction (unless the stock is inversely related to its benchmark index). You may choose to simply avoid this scenarios, otherwise remeber to adjust your tactics accordingly.
As you probably have already experienced during last months, many of them failed to breakout or reversed immediately after having breaking out. Since you may be asking yourself, I want to be clear about the fact that these negative outcomes DON'T invalidates neither the patterns nor the market approach based on them!
We have always to consider the overall market conditions before acting but, as long as it has all its requisites, a pattern is a pattern no matter if it breaks out or not, if you end up losing money, if it reaches its target or not and so on.
It simply is the oldest but still more reliable (of course I'm biased 😁😏😉) way to give me a small edge in approaching the markets. That very small edge is all we can aim to be profitable in financial markets. Everyone should be focused in finding his one.
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 ✌
During established bear markets like this one, all bullish potential patterns we spot, although they are didactically good ones, they are weak by definition since their destiny is strictly related to market direction (unless the stock is inversely related to its benchmark index). You may choose to simply avoid this scenarios, otherwise remeber to adjust your tactics accordingly.
As you probably have already experienced during last months, many of them failed to breakout or reversed immediately after having breaking out. Since you may be asking yourself, I want to be clear about the fact that these negative outcomes DON'T invalidates neither the patterns nor the market approach based on them!
We have always to consider the overall market conditions before acting but, as long as it has all its requisites, a pattern is a pattern no matter if it breaks out or not, if you end up losing money, if it reaches its target or not and so on.
It simply is the oldest but still more reliable (of course I'm biased 😁😏😉) way to give me a small edge in approaching the markets. That very small edge is all we can aim to be profitable in financial markets. Everyone should be focused in finding his one.
- 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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