In this case, I am seeing a cup and handle pattern on a 1-day timeframe and I anticipate a breakdown followed by bullish movement, might be suggesting that the price is currently forming the handle part of the pattern. If the price breaks down from the handle but then reverses and breaks out above the handle's resistance level, this could confirm the pattern and signal a bullish continuation.
Always consider using other technical indicators and risk management strategies alongside pattern recognition to make informed trading decisions. Patterns like cup and handle provide a framework for understanding potential price movements, but they should not be relied upon in isolation.
Always consider using other technical indicators and risk management strategies alongside pattern recognition to make informed trading decisions. Patterns like cup and handle provide a framework for understanding potential price movements, but they should not be relied upon in isolation.
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candle inside the parallel channel.
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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.