Cup & HandleCup is formed and we are going to make the handle. watch the price action in 30k to 34k range and buy from there if price action is bullish.
Do you guys share the same idea? tell me in the comments
Cupandhadle
The Cup and Handle Pattern in TradingGreetings, fellow traders and investors of @TradingView 📈🚀
Keep your eye for cup and handle pattern, a chart formation that hints at potential market possibilities.
The Cup and Handle:
Visualize a cup, complete with a 'U' shape and accompanied by a handle. This chart pattern mimics that very shape, capturing price shifts that can hint at noteworthy market movements. Here's the essence: a cup forms through a gradual downward trajectory, leading to a stabilizing phase, and eventually, a rally that mirrors the extent of the initial decline. This sequence of price action is pivotal in identifying the characteristic cup and handle formation.
Initiated by low trading volume, the formation gathers momentum with rising volume as the left lip of the cup takes form. Subsequently, volume recedes near the cup's bottom, only to surge again towards the right lip and breakout.
The initiation involves a dip in price, followed by stabilization, and finally, a rally that aims to retrace the plummet's impact.
As the cup materializes, it curves into a 'U' shape, while the price dips slightly to craft the handle. Notably, the handle must be smaller than the cup and should exhibit a minor downward trend within the trading range. It's imperative that the handle doesn't dip below one-third of the cup's depth.
Strategy and Execution
Now, how can you effectively trade this compelling pattern? The strategy involves positioning a limit buy order just above the upper resistance of the cup and handle. Simultaneously, set a stop-loss order slightly below the handle's support. This calculated approach ensures that your buy order triggers only when the price breaks through the upper resistance level. This cautious measure shields you from premature entry due to false breakouts.
For traders seeking an extra layer of assurance, patiently waiting for the price to conclusively close above the upper trendline of the handle can provide a higher degree of certainty before initiating the trade.
🌟 Wishing you successful trades and profitable outcomes as you leverage insights from @Vestinda. Remember, patience and careful analysis are your allies on trading path.
Happy trading! 💰
Cup and Handle Pattern in GNA AxlesCup and Handle pattern forming on the Weekly Timeframe. points that are adding conviction for further upper side.
. Increasing volume with an increase in price.
. Breakout of consolidation on the daily timeframe of 700-710 levels.
. Increasing Relative strength against Nifty 50.
. 680-700 levels acting as a good demand zone.
Entry near 720-730 levels with 50% quantity and rest quantity near 760-770 levels .
Initial Stoploss near 690 levels and then keep trailing your stoploss according to the price action.
possible Targets: 800 level and then all-time high levels.
(((30% to 45% upside possible with stoploss of about 5%)))
Cup and Handle on the daily Cup and handle with a range of $2+ (without catalyst) to its catalyst this thing could be a monster in disguise
