FR - 17 months ASCENDING TRIANGLE══════════════════════════════
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 a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 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.
FR trade ideas
VLEEY - VALEO - LiDAR Driving the Autonomous VehiclesVLEEY
ENTRY = 17 - 20
CAD = 618@14.80
HODL 26+
EV LiDAR PLAY - Playing a Major Role in Tomorrow's Mobility
www.valeo.com
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Valeo - Benefits from the stimulus plans and raised outlooksValeo recovered 78% from the drop initiated mid February. The share price increased sharply after the announcement of the stimulus packages to the automotive industry accross Europe. Barclays has just raised their share price target to 30 euros. Worth looking into buying on a pullback towards the 22 euros support line with a target near the 28 euros resistance.
VALEO - Is it the right time to enter ?On January 18, EURONEXT:FR stock price was around 66€, close to its all-time high. 9 months later, Valeo has been almost divided by 2 with the formation of a very specific type of technical price pattern. The "Dead Cat Bounce"
As defined by Helen Alpino, the dead cat bounce comes a time in a downtrend when bear traders decide to take profit. Bull traders believe that the downtrend has come to an end and that the bottom has been reached. This is what we have seen from March to May 2018 with a 50% retracement.
Technically, we can also clearly identified the Elliot Waves and we can now consider that we are in wave 5 . The fibonacci extension of Wave 1 is around the 2/2,272 which confirm the end of Wave 3. Finally, volumes are in increasing since June 18.
From now, several options can appears:
1. Wave 5 finishes the down trend around the support area (tested 2 times as you can see on the chart and we could expect a strong reaction.
2. We consider the Wave 1 to project the Wave 5 end which give us target around 27€
Q3 results (forecasted for end of October), strongly awaited by the market, will definetly give the trend for the next months.
My recommandation : Remain attentive to EURONEXT:FR . We arrive on the downtrend end where we could face a strong bull reaction