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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 ✌
I switched my position from bearish (idea linked below) to neutral and even if it could still take quite time, I keep this crypto under my radar since the Rectangle is very well defined.
Now both, long and short, options are equal possible in my opinion.
If there were no Rectangle and you asked me today to guess just for fun, I would say I'm slightly in favor of a downtrend continuation only because prices strongly bounced back when trying to test the 200 Days EMA.
Since the Rectangle exists, this of course means nothing in terms of how the pattern will unfold.
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 ✌
I switched my position from bearish (idea linked below) to neutral and even if it could still take quite time, I keep this crypto under my radar since the Rectangle is very well defined.
Now both, long and short, options are equal possible in my opinion.
If there were no Rectangle and you asked me today to guess just for fun, I would say I'm slightly in favor of a downtrend continuation only because prices strongly bounced back when trying to test the 200 Days EMA.
Since the Rectangle exists, this of course means nothing in terms of how the pattern will unfold.
- 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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