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Are you utilizing candlestick patterns in your analysis. Select candlestick patterns can be helpful with your chart pattern analysis. Study bullish and bearish patterns and see if they support your conclusions at major inflection points.

My go to source

amzn.to/2KgqpXZ
In this week's update I've discussed couple of interesting candlestick patterns in conjunction with my chart pattern identification.

$IAU #GOLD #ETF formed a bearish reversal candlestick pattern known as shooting star.
A shooting star is a bearish candlestick with a long upper shadow, little or no lower shadow, and a small real body near the low of the day. It appears after an uptrend. Shooting stars indicate a potential price top and reversal.
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Aksel Kibar, CMT
@TechCharts
Currently charts I'm paying close attention to has similar patterns as the one below (name is not important).

From a classical charting + technical analysis perspective I will discuss 3 different inflection points and strategies.
1⃣ Stock completes a H&S top from low volatility condition. Breakdown takes place below the 200-day average. A sell signal (classical charting principles)
2⃣ Stock re-tests lows. Possibility of double bottom but very early stages. A possible buy signal can be justified with only using technical analysis (support/resistance concept). Buy at support, sell at resistance.

This is not a breakout strategy. A mean reversion strategy.
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Aksel Kibar, CMT
@TechCharts
You can utilize chart patterns in two different ways.

1) Trade price between well-defined boundaries (need to find a clear chart pattern at early stages)

2) Trade breakouts through chart pattern boundaries

I favor 2.
Following examples will highlight why I favor:

1⃣Breakout strategies
2⃣Horiozontal chart pattern breakouts
3⃣Rectangle setups with several tests of chart pattern boundary
BAE SYSTEMS. Breakout after several tests of well-defined horizontal boundary. No pullback and challenge to chart pattern boundary. Bullish continuation completing above 200-day. #RECENT #BREAKOUT #ALERT #UK #FTSE
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Aksel Kibar, CMT
@TechCharts
There are 4⃣ type of #BREAKOUTS

1⃣Breakout without any retest
2⃣Breakout with a re-test
3⃣Breakout with a hard re-test
4⃣Failed breakout

Following tweets explain each one of those with examples from recent breakout alerts
Wouldn't it be great after a breakout if the pattern boundary was not challenged at all? Unfortunately we have to deal with different type of breakouts. Out of those 2 are easier to manage than the rest.

1⃣Breakout without any retest
2⃣Breakout with a retest

Examples follow...
1⃣Breakout without any retest

A recent breakout alert. A good example to highlight the importance of acting at the time of the breakout.

#SMI SONOVA HEALTHCARE #SWITZERLAND
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