Cup and Handle

24. Sept.

According to Google AI, a textbook cup and handle typically has a pull back (the handle part) that ranges from 33% to 50% of the cup range (bottom of cup to beginning of handle).

Currently this is sitting at roughly 40% pull back and showing signs of support.

I'm looking for price to establish a consolidation range somewhere close to where we are now, and possibly start pushing over the 20 ema.

Next update will be a buy signal, with any luck.

Good luck 👍

15. Okt.

Trade ist aktiv

It looks like a buy signal to me. I will make an entry above the 20 ema (daily) which is at $1.54 this evening. I normally watch the hourly time frame, waiting for a target created on the daily time frame. Please do your own research, I am not an expert. I will update the comments with stops and targets as things play out. Good luck 👍

15. Okt.

Anmerkung

If you do make an entry, your stop should be lower than $1.34, so size your position accordingly.

17. Okt.

Trade geschlossen: Ziel wurde erreicht

This did not play out, and would need a new "setup" in order to be considered a buy. If you are following my posts, I apologize if you made an entry over $1.54, however there were no closed candles on the hourly chart over $1.54, as such the "buy" signal didn't follow through and no entry should have been made. The whipsaw move over $1.54 was only artifact.

So again, I find the setup on the daily, and make a decision on the hourly. Closed candles only.

Anyway, this getting moved down the list.