The consistent up and down move on NATGAS has held price down from making a new high. On the daily time frame chart of NATGAS, the price has maintained its levels of two rounded shapes.The is is a bullish chart pattern called THE CUP AND HANDLE CHART PATTERN.
What is the cup&handle chart pattern?
The cup and handle chart pattern is considered to be a bullish chart pattern as the price presents two rounded bottom shaped moved.
It has a rounded turn that looks like a cup with a handle on the right. The cup should be U-shaped, not V-shaped.
The cup must have a handle on the right and it forms in upper right side of the cup. Price above the horizontal resistance is an important levels to keep an eye on. Trades should keep an eye on these level below:
Breakout levels(buy level): $2.802
Resistance 1(1st target): $2.886
Resistance 2(2nd target): $2.988
Resistance 3(3rd target): $3.109
Resistance 4(4th target): $3.271.
Traders who buy at this levels are exposed to high risk, as price is heading back to reach that previous resistance.
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
What is the cup&handle chart pattern?
The cup and handle chart pattern is considered to be a bullish chart pattern as the price presents two rounded bottom shaped moved.
It has a rounded turn that looks like a cup with a handle on the right. The cup should be U-shaped, not V-shaped.
The cup must have a handle on the right and it forms in upper right side of the cup. Price above the horizontal resistance is an important levels to keep an eye on. Trades should keep an eye on these level below:
Breakout levels(buy level): $2.802
Resistance 1(1st target): $2.886
Resistance 2(2nd target): $2.988
Resistance 3(3rd target): $3.109
Resistance 4(4th target): $3.271.
Traders who buy at this levels are exposed to high risk, as price is heading back to reach that previous resistance.
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
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.