1911 - 6 months CUP & HANDLE CONTINUATION══════════════════════════════
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 ✌
The left-hand side monthly chart shows us the overall scenario which is fundamental to evaluate the reliability of every pattern. The Cup & Handle continuation here is developing as a congestion just around the breakout area of the multi-month correction Channel and just below the quite strong previous level at 2480.
So, if I would consider this opportunity, I probably would wait till price closes (and maybe even establishes) above the 2480 level before considering a breakout as a valid 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"
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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.
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