LINKUSDT - 8 months RECTANGLE

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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 ✌

LINK consolidated in the form of a long Rectangle (weekly chart shown) that now seems attempting a breakout.
Since we have a strong previous level to deal with at 4.950, breakout area really depends on your trading style. I would probably treat this as a weekly pattern and so I would wait till price break down below 4.950.

• Pattern Class: 🌕🌕🌕🌕🌑
  
• Target area: see chart
  
• Breakout area: depends on your trading style
  

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.
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