- #56,262
- May 27, 2020 9:48am May 27, 2020 9:48am
- Joined Nov 2018 | Status: Trader | 3,014 Posts
{quote} Appreciate it
Gold had this nice bull H1 setup went directly to daily open. Sadly didnt take it because I was working
- #56,264
- May 27, 2020 10:45am May 27, 2020 10:45am
- Joined Jan 2019 | Status: Trader | 2,656 Posts
Possible cup and handle formation on the 1H USD/JPY...
How to identify the cup and handle pattern,
To identify the cup and handle pattern, start by following the price movements on a chart. The pattern starts to form when there is a sharp downward price movement over a short time. This is followed by a period where the price remains relatively stable. Then, there is a rally that is more or less equal to the initial decline. These movements form a ‘u’ shape on the chart – this is known as the cup.
Once the price has reached the top of the cup, it starts moving sideways or slightly downwards to form the handle. If the handle drops below the lower half of the cup, it is no longer a ‘cup and handle’ pattern. In most cases, the handle should not dip below the top third of the cup for it to be a cup and handle pattern.
Look at all that congestion around the 107.7 area which is right around the 1/3rd mark described above. Days ago an analyst described this pattern as one of the more bullish ones. Let's see. Isn't learning fun?!
How to identify the cup and handle pattern,
To identify the cup and handle pattern, start by following the price movements on a chart. The pattern starts to form when there is a sharp downward price movement over a short time. This is followed by a period where the price remains relatively stable. Then, there is a rally that is more or less equal to the initial decline. These movements form a ‘u’ shape on the chart – this is known as the cup.
Once the price has reached the top of the cup, it starts moving sideways or slightly downwards to form the handle. If the handle drops below the lower half of the cup, it is no longer a ‘cup and handle’ pattern. In most cases, the handle should not dip below the top third of the cup for it to be a cup and handle pattern.
Look at all that congestion around the 107.7 area which is right around the 1/3rd mark described above. Days ago an analyst described this pattern as one of the more bullish ones. Let's see. Isn't learning fun?!
Don't compare your trades to others. Most often the masses are the asses
- #56,272
- May 27, 2020 3:35pm May 27, 2020 3:35pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
GD all..
️
️ just for a cup of coffee...
- #56,279
- May 27, 2020 7:17pm May 27, 2020 7:17pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
just for a cup of coffee...