Drink Up multiple cup/handle patterns forming
already long but wanted to share these series of cup and handle patterns forming on oil... Looking for a potential retrace to 69.70-69.50 max, looking for price action to retest the breakout of the last cup and handle pattern.. leading to a larger breakout... dips will be bought swiftly
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think of this as a teaching tool... when trading bullish/bearish continuation patterns, always look for the same pattern to continue onto a higher time frame until its invalidated.. In this case, I seen a retrace of the smaller cup/handle on the smaller time frame and notice a series of the cup/handle patterns, which are currently forming inside of a much larger cup/handle pattern, which will lead to a bigger breakout..
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bullish patterns can be overbought on specific time frames to lead to higher breakouts just showing love and education to the trading community. cheers
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also seen on the 2hr
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now the picture is getting more clearer . I hope this helps
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this is the 4th cup and handle pattern
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we buying all dips
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followed this live chart
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by any dip Sunday/Monday
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prev. resistances of B leg, should act as future support
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Lets see if the 2hr can get it done on this cup and handle breakout. I'm aggressively looking for $74 min target on oil, w/ max 75 potentially by Friday's close
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4hr cup/handle being created
