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CMIN3 - 9 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 🤝 ══════════════════════════════ 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" ═════════════════════════════ ⚠ 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.
BMFBOVESPA:CMIN3Long
by TheArtOfCharting
Should we keep an eye on China?Sorry guys, but I need to open this debate. Will VALE3 really make a double bottom in the region of 53.64? I honestly have a big doubt right now. I'm starting to question my previous review for only one reason . Is this the real price for the company, that is, is your market valuation the current one? I, looking to the left of the graph, realize that it is not. The fact for this is quite simple. Look at asset prices before the pandemic. It has always been working below the historical top region formed at the time (43.06) in September 2018. Then, of course, you will come up with the following question. -Ah, all commodities had a significant increase in the post-pandemic, so this is the main reason for the increase for iron ore and consequently the share price. And I will answer: -Okay, I completely agree with you, but answer me a question, because the answer you will give me will answer your argument and consequently defend mine: “-Who is the biggest consumer of iron ore in the world? ” You will surely answer me: -China, of course. I will say. - Well then, who controls the price of this commodity is China itself, therefore the valuation of the VALE company is completely linked to the value of iron ore in the international market (ops Chinese). Another factor I'm going to put on the table. Look at the price of iron ore in the pre-pandemic Shanghai market. They are falling, right? Therefore, I believe it to be the recession (real estate) that was approaching and that was confirmed in the sequence with the collapse of the main Chinese civil construction companies (Evergrande and others - recently we had Country Garden). Based on these assumptions, I'm going to kick the bucket and say the following: We will not have a double bottom (BRAZIL) (lol) , because I think that prices will seek two steps below, more precisely the region of 43.06, that historical peak of the time of 2018. Is it too much of a trip for me to think that the asset will not fall, but rather collapse in the coming months? Because if I consider that China's economic power is shrinking, I can have this daydream of seeing VALE's role in seeking the informed region! -Unfortunately for us, only time will tell if my daydream will be correct or not! Then look at the bearish pivot of my daydream's monthly chart! (lol) -Do your analysis and good business. -Be Conscious. If Buy, Use Stop Loss! -See below for other graphic reviews!
BMFBOVESPA:VALE3
by MacD_Bollinger