Cup & Handle w/ Double Bottom?
Updated
Cup & Handle is Developing and is about to get confirmed.
The Top Right Peak is 1441
The Low of the Cup is 1384.7
If 1441-1384.7 = 56.3 Points.
To Calculate the Handle, Max Drop is 56.4 / 2 = 28.2
1441 - 28.2 = 1412.7.
In which, It did hit that number then bounced back up.
Breakout Level is usually Breakout Level ( 1441 ) + The Cup's Point Range ( 56.4 )
Calculation of the Breakout for PT:
1441 + 56.4 = 1497.4
But I really doubt it, my optimal PT to be not greedy is 1480.
There is a Double Bottom in the Handle because it hit the bottom of the support twice. 1 @1414 another one at 1412.7 ( Bottom of the Handle ).
Also, Everything in my indicators are about to turn bullish.
Including MACD, %R, AD, MFL.
The Top Right Peak is 1441
The Low of the Cup is 1384.7
If 1441-1384.7 = 56.3 Points.
To Calculate the Handle, Max Drop is 56.4 / 2 = 28.2
1441 - 28.2 = 1412.7.
In which, It did hit that number then bounced back up.
Breakout Level is usually Breakout Level ( 1441 ) + The Cup's Point Range ( 56.4 )
Calculation of the Breakout for PT:
1441 + 56.4 = 1497.4
But I really doubt it, my optimal PT to be not greedy is 1480.
There is a Double Bottom in the Handle because it hit the bottom of the support twice. 1 @1414 another one at 1412.7 ( Bottom of the Handle ).
Also, Everything in my indicators are about to turn bullish.
Including MACD, %R, AD, MFL.
Note
Unexpected drop from NFP & Rate Cuts to 1390~.Employment Rates rosed from 3.6% to 3.7% and the chance of a rate cut has decreased.
Stop @1380
Order cancelled
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