LIT - 6 months HEAD & SHOULDER TOP
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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 🤝
═════════════════════════════════
Hello Traders ✌
As we can see on the weekly chart, we are at the top
of a strong uptrend. The pattern is also taking place
at the all time highs (violet dotted line) and the
neckline stands at 78.50 level. A breakdown would
also breach the 200 days EMA.
The left shoulder can be labeled as a Rectangle itself
but the right shoulder is poor formed. This is usually
(not always) a sign of weakness.
The breakout immediately have to deal with the
previous 74.50 level.
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.
════════════════════════════════
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 ✌
As we can see on the weekly chart, we are at the top
of a strong uptrend. The pattern is also taking place
at the all time highs (violet dotted line) and the
neckline stands at 78.50 level. A breakdown would
also breach the 200 days EMA.
The left shoulder can be labeled as a Rectangle itself
but the right shoulder is poor formed. This is usually
(not always) a sign of weakness.
The breakout immediately have to deal with the
previous 74.50 level.
- Pattern Class: 🌕🌕🌑🌑🌑
- Target area: 64.00
- Breakout area below: 76.00
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"
═════════════════════════════════
⚠ 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.
════════════════════════════════
Disclaimer
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