Cup and Handle is a bullish continuation chart pattern that marks a consolidation period followed by a breakout.
Chart patterns form when the price of an asset moves in a way that resembles a common shape, like a rectangle, flag, pennant, head and shoulders, or, like in this example, a cup and handle.
There are two parts to this chart pattern:
The cup
The handle
The cup forms after a downtrend is followed by an uptrend and looks like a bowl or rounding bottom.
As the cup is completed, price trades sideways, and a trading range is established on the right-hand side and the handle is formed.
A breakout from the handle’s trading range signals a continuation of the previous uptrend.
Trade Setup
AUDCAD buy now @0.91895
Stop loss @0.91539
TP@0.93029
Use good risk management strategy
Kindly like comment and follow for more
Ähnliche Ideen
AUDCAD
sco_solomon
about AUDCAD