MSI - 15 and 5 months CUP & HANDLE CONTINUATION
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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 ✌
On the left-hand side we can see the weekly scenario which shows a massive Cup & Handle Continuation taking place at the all-time high and along the 200 Days EMA.
The Handle is another pattern in itself (right-hand side daily chart).
Some other Chartists could consider it as a Rectangle looking at the strong base it shows. In my opinion it is a second Cup & Handle because, despite its solidness, I consider the base as part of the same swing so I have only one point at the bottom to rely on. Since, in this case, the implications are the same (what we want to see is a breakout on the upside) this disquisition is purely didactical/philosophical.
The breakout are is the same, two possible targets ahead.
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 ✌
On the left-hand side we can see the weekly scenario which shows a massive Cup & Handle Continuation taking place at the all-time high and along the 200 Days EMA.
The Handle is another pattern in itself (right-hand side daily chart).
Some other Chartists could consider it as a Rectangle looking at the strong base it shows. In my opinion it is a second Cup & Handle because, despite its solidness, I consider the base as part of the same swing so I have only one point at the bottom to rely on. Since, in this case, the implications are the same (what we want to see is a breakout on the upside) this disquisition is purely didactical/philosophical.
The breakout are is the same, two possible targets ahead.
- 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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