After a sell trade not taken on invalidation of an H & S, here is my next trade proposal :
this time buyer, on a bullish breakout of a Cup & Handle.
Positioning of the opening, target and stop loss threshold on the chart.
DISCLAIMER: This is not an investment advice. You are solely responsible for your positions.
this time buyer, on a bullish breakout of a Cup & Handle.
Positioning of the opening, target and stop loss threshold on the chart.
DISCLAIMER: This is not an investment advice. You are solely responsible for your positions.
Note
This Rising Wedge was successful where the previous Rising Channel failed: break up the oblique line of bearish trend traced from the top!
Be careful, however, that this is not a fake breakout, because the Rising Wedge is above all a reversal pattern with bearish output as represented below:
Hence the importance of having placed my opening of trade buyer above the bullish breakout of the Cup & Handle line!
Note
Evolution as expected under the oblique resistance:Trade active
We are approaching the breakout line of the Cup & Handle, pattern to which are added two other bullish signal patterns: an Inverted H & S drawn in white below, and now the bullish breakout of an ascending triangle drawn in blue below:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.