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Cup And Handle

Deep Cup and Handle Formation: Price Targets and StrategyIn the current market environment, a fascinating "cup and handle" pattern has emerged on the daily chart, presenting a potentially lucrative trading opportunity. This analysis aims to delineate the characteristics of the pattern, its implications, and a strategic approach for capitalizing on it. **Pattern Depth and Formation**: The "cup" portion of the pattern experienced a substantial drop of 76.14%, indicating high volatility and a deep formation. This was followed by a handle that retraced 23.30% from the top of the cup. The handle has been forming over 59 days, suggesting a significant consolidation period that typically precedes a strong breakout. **Volume Analysis**: Volume dynamics during the handle formation have been stable, maintaining an average level compared to the previous 30 periods, with occasional peaks. This indicates sustained interest and engagement from the market participants while waiting for a clearer direction. **Price Range**: The handle has been oscillating between 78,847 and 56,610. This range is crucial as staying within this boundary suggests a robust formation. A break above this range, especially if accompanied by increased volume, could signal the start of an upward trajectory. **Price Target Calculation**: Based on the depth of the cup (22,237 points from 78,847 to 56,610), the price target post-breakout can be projected at approximately 101,084. This target is derived by adding the depth of the cup to the breakout level at the top of the cup. **Conclusion and Trading Strategy**: Considering the current formation and market conditions, traders should watch for a breakout above the 78,847 level with high volume as a confirmation of the pattern's validity. Setting a price target around 101,084 offers a substantial upside potential. However, it's critical to place stop-loss orders below the lower boundary of the handle at 56,610 to mitigate risks associated with unexpected market turns. This "cup and handle" pattern highlights not only the potential for a profitable trade but also underscores the importance of patience and confirmation in trading strategies. As always, keep an eye on broader market trends and adjust your strategies accordingly.
by vieiraes
SOL can ascend further! BINANCE:SOLUSDT SOLUSDT is in the ascending phase by the cup and handle. SOL is in a large C&H if it follows these pattern, the price will have a nice rally. ⭐The pattern increases the price by the amount of the measured price movement (AB=CD). Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
by CobraVanguard
2
Bitcoin Cup and Handle heading to bullrun?Will this bullrun be formed out of a cup with handle breakout? If the price confirms the resistance at the current region, it could very well be the case. Cup and Handle identification analysis: • Price rises into the start of the cup - ✔ • The cup should be U-shaped, not V-shaped - ✔ • Cup rims should be near the same price level but be flexible - ✔ • A rounded turn that looks like a cup with a handle on the right - loading... • The cup must have a handle on the right - loading... That would lead to Bitcoin's new ATH @ ~$280k by the end of 2025.
BITSTAMP:BTCUSDLong
by B4Baggio
2
SP500 - #SPX melt up targets for cup and handle pattern.BLUE SKIES Would you have believed it If you were told a year ago. When every expert was predicting a recession. (which will come of course but when no one is expecting it ) So the conditions are set for a melt up I believe #Bitcoin bottoms very shortly maybe this week or next (grab some bitcoin miners!) ENJOY THE NEXT few months! #CNBC will trumpeting SOFT LANDING Investors will believe interest rates are falling because of low #Inflation Which is when the next slowdown will hit. This cycle has been crazy and hard to follow the main trend. The stimulus was unprecedented Remember this cycle started in 2009... 15 years ago We are near the end! But first SPX to smash 5000 and than potentially we hit that 6000 number
CME_MINI:ES1!Long
by BallaJi
2
Gold going for the 5th wave of the 3rd wave (higher degree)So, I've previously mentioned that Gold has a major cup-and-handle formation (linked to this idea) and that it is a very bullish formation. Price has since broken up and I spent some time to update on the Elliott Wave counts in this analysis. Here's what I expect Gold price to be for the near term: 1. It will move up for a 5th wave of a higher degree 3rd wave. 2. Then it will experience a 4th wave of a higher degree which should be rangy (since wave 2 is a zig-zag). 3. Then another 5th wave up. Overall, it is still a very bullish call.
TVC:GOLDLong
by yuchaosng