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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 Toyota (6201 - Left Chart) last week has clearly broken out on the downside of a Rectangle, this week could be the same for another motor company: Nissan (7201 - Right Chart).
Both are same length but I definitely prefer the Toyota one since it took place at the all-time high and the proportion compared to the previous price move it is trying to reverse is acceptable to my standards. The Nissan Rectangle has nothing to reverse in my opinion. I would have rather preferred to see a breakout on the upper side in this case. Anyway, the Rectangle still exists and it is a good one in itself. A breakout has immediately to deal with the strong 490.00 previous level.
🔎🔎🔎 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 ✌
After Toyota (6201 - Left Chart) last week has clearly broken out on the downside of a Rectangle, this week could be the same for another motor company: Nissan (7201 - Right Chart).
Both are same length but I definitely prefer the Toyota one since it took place at the all-time high and the proportion compared to the previous price move it is trying to reverse is acceptable to my standards. The Nissan Rectangle has nothing to reverse in my opinion. I would have rather preferred to see a breakout on the upper side in this case. Anyway, the Rectangle still exists and it is a good one in itself. A breakout has immediately to deal with the strong 490.00 previous level.
- Pattern Class: 🌕🌕🌕🌑🌑
- Target area: 405.00
- Breakout area below: 500.00
🔎🔎🔎 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.
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