THD - 6 months SYMMETRICAL TRIANGLE

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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 ✌

This post is to show what is not a great Triangle to me.
I mean, we can say it exists so taking this opportunity would not be the worst possible choice and, of course, it could be profitable BUT:

• I consider a weakness when a boundary line (specially sloping ones) is formed by just two consecutive points with no low in between that serves to form the opposite boundary line;
  
• I see many traders doesn't care about this but I really don't like when a pattern develops as the last part of a bigger congestion. I always want to see a previous trend or, at least, a minimum of price direction;
  

If prices go towards the target, keep in mind that we will have to deal with the 83.50 previous level.

• Pattern Class: 🌕🌑🌑🌑🌑
  
• Target area: 88.00
  
• Breakout area above: 81.00
  

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"
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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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