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You are here: Home1 / Blog
“Demystifying the world of Classical Charting”
– AKSEL KIBAR

FORTIVE CORP (FTV.N)

February 5, 2023/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a cup & handle continuation chart pattern on Fortive Corporation.

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https://blog.techcharts.net/wp-content/uploads/2023/02/MORPHOLOGY-CUP-HANDLE-CONT-IMAGE.png 321 737 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2023-02-05 04:59:132023-02-05 05:01:30FORTIVE CORP (FTV.N)

EUROPE INDICES

January 8, 2023/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below charts are from the review section of the weekly report. It is featuring two major bottom reversal chart patterns on European equity benchmarks. I'm seeing similar setups on several single equities as well.

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https://blog.techcharts.net/wp-content/uploads/2023/01/January-8-Featured-Image.png 561 1379 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2023-01-08 17:02:532023-01-08 17:02:53EUROPE INDICES

INMODE LTD (INMD.OQ)

December 25, 2022/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a trading opportunity on the price chart of Inmode Ltd.

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https://blog.techcharts.net/wp-content/uploads/2022/12/December-26-Featured-Image.png 644 1549 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-12-25 20:41:242022-12-25 20:43:14INMODE LTD (INMD.OQ)

REMEGEN CO LTD (9995.HK)

December 12, 2022/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a trading opportunity on the price chart of RemeGen Co Ltd.

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https://blog.techcharts.net/wp-content/uploads/2022/12/December-12-II-Featured-Image.png 541 1731 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-12-12 14:29:302022-12-12 14:29:30REMEGEN CO LTD (9995.HK)

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC (EDU.N) 

December 4, 2022/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a trading opportunity on the price chart of New Oriental Education & Technology Group Inc.

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https://blog.techcharts.net/wp-content/uploads/2022/12/HS-CONT-IMAGE.png 402 954 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-12-04 08:01:382022-12-04 08:01:38NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC (EDU.N) 

FIRST MAJESTIC SILVER CORP (AG.N)

November 6, 2022/4 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a trading opportunity on the price chart of FIRST MAJESTIC SILVER CORP.

FIRST MAJESTIC SILVER CORP (AG.N)

First Majestic Silver Corp is focused on silver and gold production in Mexico and the United States. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long complex (with 2 heads) head and shoulder bottom with the horizontal boundary acting as strong resistance at 9.13 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 9.40 levels will confirm the breakout from the 5 month-long head and shoulder bottom with the possible chart pattern price target of 11.60 levels.


Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

https://blog.techcharts.net/wp-content/uploads/2022/11/November-6-Featured-Image.png 595 921 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-11-06 09:00:122022-11-06 09:00:12FIRST MAJESTIC SILVER CORP (AG.N)

RUSSELL 2000 INDEX (RUT)

October 23, 2022/0 Comments/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the review section of the weekly report. It is featuring a trading opportunity on the price chart of Russell 2000 Index.

Russell 2000 Index, a measure of small cap performance, found support at the June 2022 lows; 1,650 levels. Until there is a breakdown below the support, I see a trading range between 1,650 and 1,900 levels. Breakdown can resume the downtrend. This week’s price action managed to hold above the June lows. Breakout above 1,780 levels can result in a short-term bullish reversal with the price target of 1,900 levels. I favor Russell 2000 Index for a short-term long position when compared with other U.S. equity benchmarks.


Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

https://blog.techcharts.net/wp-content/uploads/2022/10/1.png 522 927 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-10-23 16:27:312022-10-23 16:27:31RUSSELL 2000 INDEX (RUT)

RECAP OF INTERACTIVE CONTENT

September 29, 2022/0 Comments/in Blog Post/by Aksel Kibar

Dear Tech Charts Blog followers,

Over the past few weeks I started putting out those interactive charts and videos that met great interest from classical charting enthusiasts. I’ve been thinking of ways to improve your learning experience. I realized that many who are interested in charts and technical analysis want feedback on their input and also test their knowledge. Interactive content is the best way to do this. It is almost like one on one lecture/tutoring.

I will continue to add more interactive content and possibly make this an ongoing educational platform for our members.

Here is a recap of the last 3 public posts/videos I created for our followers.

SYMMETRICAL, ASCENDING & DESCENDING TRIANGLES

H&S CONTINUATION PATTERN

CANDLESTICK PATTERNS AT SUPPORT & RESISTANCE


Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

https://blog.techcharts.net/wp-content/uploads/2022/09/September-29-Featured-Image.png 241 927 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-09-29 07:30:542022-09-29 07:31:53RECAP OF INTERACTIVE CONTENT

SYMMETRICAL, ASCENDING & DESCENDING TRIANGLES

September 26, 2022/0 Comments/in Blog Post/by Aksel Kibar

There are three types of triangles covered under the classical charting principles. The symmetrical triangle, ascending triangle and descending triangle. Between those three I favor ascending and descending triangles for couple of reasons. One of them is, both ascending and descending triangles have horizontal boundaries. Breakouts through the horizontal boundaries are the chart pattern signal. The other reason is that, both ascending and descending triangles have directional bias due to their upward and downward sloping lower and upper boundaries. I find symmetrical triangles difficult to trade as price usually finds resistance at the minor highs following the breakout. Pause around minor resistance usually hampers the momentum and can result in more frequent failures.

Let’s analyze the 3 different types of triangles with below interactive charts.

Symmetrical triangle has both boundaries converging towards an apex. It is a neutral chart pattern and doesn’t have a directional bias.

I follow the below template to review weekly scale price charts. The template loads 5 years of data (+/- 250 candles) on the weekly scale price chart. I like to view price action without any indicators and also on white background.

This is how I would draw the boundaries of a symmetrical triangle. I pay attention to several tests of pattern boundary before a breakout takes place. Minimum 3 touches of a chart pattern boundary gives me the confidence that the chart pattern boundary is well-defined and a breakout can trigger a directional movement.

This was a symmetrical triangle reversal that was alerted to Tech Charts members as a symmetrical triangle bottom reversal. Note the 3 touches of the upper boundary and also the sharp pullback that followed the breakout. Minor high acted as resistance and resulted in several weeks of hesitation around the pattern boundary.

This was a symmetrical triangle that acted as a top reversal. You can see the several tests of the lower boundary before the breakdown took place. Note the re-test of the pattern boundary and where the rebound started from; the minor low.


Ascending triangle is a bullish chart pattern. Its upward sloping lower boundary gives the pattern the bullish bias. Buyers are more impatient at every correction, bidding the price at a higher level while sellers defend the same horizontal resistance. Over time the pattern shows the battle between buyers and sellers shifting in favor of buyers. The pattern is completed with a breakout through the horizontal boundary.

I follow the below template to review daily scale price charts. The template loads 1 year of data (+/- 250 candles) on the daily scale price chart. I like to view price action without any indicators and also on white background.

This is how I would draw the boundaries of the ascending triangle. Please note the several tests of the upper boundary before the breakout takes place.

As a bottom reversal, the formation of the ascending triangle can spread over several months. Qualities I look for don’t change. I continue to look for a breakout through the horizontal boundary and also the several tests of the horizontal boundary before the breakout.

Descending triangle is a bearish chart pattern. Its downward sloping upper boundary gives the pattern the bearish bias. Sellers are more impatient at every recovery, pushing the price to a lower level while buyers defend the same horizontal support. Over time the pattern shows the battle between buyers and sellers shifting in favor of sellers. The pattern is completed with a breakdown through the horizontal boundary.

This is how I would draw the descending triangle on the weekly scale price chart of YELP.K. Breakdown took place after the 3 test of the lower boundary.

Given its bearish nature, descending triangle can form as a top reversal and the completion of it would forecast lower prices. High conviction setups are as always those with several tests of the horizontal boundary before a breakdown signal.


Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

https://blog.techcharts.net/wp-content/uploads/2022/09/all-2.png 449 1525 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-09-26 17:06:552022-09-26 17:06:55SYMMETRICAL, ASCENDING & DESCENDING TRIANGLES

GOLD ($/OUNCE)

September 25, 2022/1 Comment/in Blog Post/by Aksel Kibar

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the review section of the weekly report. It is featuring a possible double top reversal on the weekly & monthly scale price charts of GOLD.

I have been categorizing Double Top and Double Bottom as rectangle. This is to reduce the confusion on terminology. Today I look at the Double Top description of Richard W. Schabacker in his book Technical Analysis and Stock Market Profits.

Image

According to Schabacker a Double Top should have these qualities for correct labelling:

  • High volume around same level at both peaks
  • No less than 20% drop in price from peak to neckline
  • Peaks several weeks apart
  • Double top appearing after a lengthy uptrend

Let’s have a look at more detailed explanation from his book.


Image


According to him, more important than volume pattern, the depth of the pattern impacts the correct labelling of the chart pattern.


Image


Here is a chart he used to explain a typical double top chart pattern.

Image


Looking at the chart pattern development on GOLD, the labelling can fit the definition of a Double Top.

Image

Coverage on Gold from September 24, 2022 Global Equity Markets report:

Gold might be completing a rectangle/double top on the monthly scale price charts. Daily close below 1,630 levels will confirm the breakdown and suggest lower levels in the coming months. Low volatility condition on monthly scale price chart is similar to 2013 and 2019 consolidations. Each one of those was followed by strong directional movement. If the pattern completes on the downside with a long monthly candle, I will expect the directional move continue towards 1,400 levels. 1,680 levels becomes the new resistance. A sharp reversal above 1,680 levels can change the negative outlook to neutral.


Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now

https://blog.techcharts.net/wp-content/uploads/2022/09/September-25-Featured-Image.png 512 915 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2022-09-25 07:28:472022-09-25 07:29:09GOLD ($/OUNCE)
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