Price action and chart pattern trading signal
A potential bullish Cup&Handle with ABC correction wave pattern moving within a bull flag downtrend channel, retraced -61.8% of uptrend diagonal wave and rebounded now testing wma200 resistance. An upcoming bullish divergence is possible to support wave 5 of c leg, if breakout 200ma successfully,
Entry: bull flag breakout wma50 zone
Target: 161.8% - 200% Cup bottom shape retracement +50 - 75% upside
SL: below bull flag - 15%
RRR: 3:1
Always trade with affordable risk and respect your stoploss.
A potential bullish Cup&Handle with ABC correction wave pattern moving within a bull flag downtrend channel, retraced -61.8% of uptrend diagonal wave and rebounded now testing wma200 resistance. An upcoming bullish divergence is possible to support wave 5 of c leg, if breakout 200ma successfully,
Entry: bull flag breakout wma50 zone
Target: 161.8% - 200% Cup bottom shape retracement +50 - 75% upside
SL: below bull flag - 15%
RRR: 3:1
Always trade with affordable risk and respect your stoploss.