TENCENT (700) - 7 months DESCENDING TRIANGLE

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Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS

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Hello Traders ✌

Nothing much to say here, after a sizeable down move prices are consolidating in a form of a Descending Triangle just below the 200 days EMA. If a breakout occurs, we should not have strong previous levels between us and the target.

• Pattern Class: 🌕🌕🌕🌕🌑
  
• Target area: 345.50
  
• Breakout area below: 409.00
  

Entry Point and Initial Stop Loss depends on your Trading Plan Tactics and Money Management rules.

🔎🔎🔎 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.
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