UNIUSD - 9 months DESCENDING TRIANGLE + HEAD & SHOUDLERS

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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 ✌

After breakout, prices are consolidating at a previous small minor-high level (9.90). The consolidation has taken the form of a compact Head & Shoulders Continuation.
I would not use this eventual breakout to establish a main position on this crypto but I would only evaluate the opportunity to increase my position if I were already at market.
If prices go towards the target, keep in mind that we will have to deal with the previous level at 7.00

• Pattern Class: 🌕🌕🌕🌕🌕
  
• Target area: 4.40
  
• Breakout area below: 9.30
  

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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