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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 ✌
Weakness in Europe has taken the form a Rectangle. After a first intraday attempt to the downside, prices pulled back within the pattern. The 200 days EMA is turning but, at the moment, both scenarios (up/down) are still possible here. If a breakdown occurs, prices will also have to breach the strong level at 50.70 (see weekly chart not shown here).
🔎🔎🔎 ALWAYS REMEBER
"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 ✌
Weakness in Europe has taken the form a Rectangle. After a first intraday attempt to the downside, prices pulled back within the pattern. The 200 days EMA is turning but, at the moment, both scenarios (up/down) are still possible here. If a breakdown occurs, prices will also have to breach the strong level at 50.70 (see weekly chart not shown here).
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 47.60
- Breakout area below: 50.50
🔎🔎🔎 ALWAYS REMEBER
"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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