Theta TokenShort
THETAUSD - 10 months DESCENDING TRIANGLE
═════════════════════════════════
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
from the all-time highs (violet dotted line). The last
stages of the pattern show a completed Head &
Shoulders Continuation taking places just below the
200 days EMA which gives value to the bear scenario
and to the breakout. The breakdown rebounded at
the previous 2,60 level and, if prices go towards
the target, we may also have to deal with the 1.70 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"
═════════════════════════════════
⚠ 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
from the all-time highs (violet dotted line). The last
stages of the pattern show a completed Head &
Shoulders Continuation taking places just below the
200 days EMA which gives value to the bear scenario
and to the breakout. The breakdown rebounded at
the previous 2,60 level and, if prices go towards
the target, we may also have to deal with the 1.70 level.
- Pattern Class: 🌕🌕🌕🌕🌕
- Target area: 0.95
- Breakout area below: 3.00
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
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.