Felito Medina

@TechCharts Ok that’s interesting. I will have to give that a look. Will be nice to have a visual. I’ve learned I’m more visual in my approach. I tend to lean towards that. Thank you for that information sir.

@FGMTrading A subjective approach is to pick an ATR multiple and place that below the pattern boundary. I use the same multiple ATR above the pattern boundary for stop limit entries.

Pattern negation and stop-loss are NOT the same thing. A pattern negation can be used as a stop-loss. A stop-loss depends on a tactical trading decision. The tighter the stop-loss below the pattern boundary the higher the risk of getting stopped out but also higher the reward/risk if the pattern succeeds. A logical place for a stop-loss is below the pattern boundary once the breakout is confirmed. Stop-loss distance from the pattern boundary CAN NOT be optimized. There is no perfect stop-loss strategy that will keep you in a trade when markets get volatile. It is a trade off you are getting into. You need to either accept higer reward per risk but lower win% or higher win% but lower reward per risk. Choose first one if you are comfortable to be wrong quickly and more frequently in order to have few larger wins.

@TechCharts Congratulations on the milestone Aksel, genuinely love your work.

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@TechCharts @EzraTrading Beautifully articulated. Thank you Aksel.

@EzraTrading I use 365 days average for crypto. It is a coincidence that price touched the 200-day. Earlier rejection was from the 365 days. We can't optimize this. One way or another long-term average can be used as a trend filter, not a level for trading decision making.

$BTCUSD

@EzraTrading @TechCharts Great question, I wondered this myself.

@TechCharts Hello Aksel, when analyzing BTC does the 200-MA still hold any significance to you? I noticed the rejection of the upper boundary of that channel is coupled with the 200. Thank you.

@TechCharts Ok, copy that. Thank you for that insight. I find myself hesitant to enter a trade when I have resistance overhead.

@FGMTrading There is a good distance till that resistance. I wouldn't change my game plan for the ascending triangle. Possibly add or initiate new position with rectangle breakout.

We have captured the #ascendingtriangle breakout @techcharts Global Equity Markets report. Though one is not limited to one pattern as the trend develops. A larger scale rectangle is completing and it can be utilized as a signal to add to existing long positions. $PEO Interested in identifying and trading these classical chart pattern setups with us? >> blog.techcharts.net

@TechCharts Rectangles for me Aksel.

2 similar chart pattern setups and breakouts. Different exchanges, sectors and geographies... Chart patterns are timeless and repetitive. What is your favorite classical chart pattern setup?

Shouldn’t need to force lines, it should be obvious and clean. #trading

Potential Dow Theory at play. We know confirmation level is shown. What’s negation level? #trading

Capital preservation is paramount. #trading

We use the weekends to look for long term setups on the weekly charts. #trading

If you lack discipline, you will most likely fail at trading. #trading

There are so many different ways to trade the markets. So many different tools. Styles, approaches, the way you see it. Educate yourself, read books, invest that time. Take bits and pieces from everywhere, and create your process. #trading

Trend is extremely important. Your ability or inability to be able to identify Uptrend, Downtrend, or sideways movement, will allow you to use the correct approach to the market. That will determine how to properly deploy capital. #trading

The part of trading that isn’t talked about much is the psychological side. Markets can stay irrational longer than you can stay solvent. My mentor made sure I understood this. #trading

@TechCharts Was literally just looking at this chart thinking the same thing sir.

$COIN Ideally, I like to see price above the year-long average to get excited. This could be the setup that pushes the stock above the long-term average.

@TechCharts As the chart gives more info, you take that into consideration in your analysis. Great work always Aksel. @TechCharts

Bitcoin "cult" is annoyed with the slight adjustment of the upper boundary of the channel. They claim I'm biased but they don't see their long bias. Constantly looking for confirmation of their long position. I don't think most of the "cult" will understand but here is an important point: Be it rising wedge or a channel. In the case of a rising wedge it is even more important. The breakout of the upper boundary should come with a long white candle. This is a required signal that says bulls have clearly won the battle. Example below:

@PeterLBrandt Imagine

@TechCharts Thank you for that information sir.

@Felito_GM Yields in general going up. Inflationary. Commodities a good hedge. Oil still strong. Add these up.

#GERMANY #YIELDS Breakout, pullback and continuation?