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Cup And Handle

$SPY Bullish Breakout: Cup & Handle Formation on Weekly Chart The AMEX:SPY is exhibiting a compelling technical formation on its weekly chart. A classic cup and handle pattern has emerged, signalling a potential bullish breakout. The cup and handle pattern observed over the past several months on the AMEX:SPY not only signals a bullish continuation following a period of consolidation but also aligns with the current Stochastic Oscillator readings below 70, emphasizing the potential for upward movement without immediate overextension. This formation, marked by a stabilizing rounding bottom and a subsequent minor pullback, reflects a growing bullish momentum, further reinforced by the Stochastic Oscillator's position, which adds confidence in the face of the ongoing market volatility. Based on this analysis, a tactical trade can be structured as follows: Entry Point: Consider entering the trade at the current level, as the price breaks out of the handle. Stop Loss: To manage risk effectively, set a stop loss at the low of the handle. This placement protects against unforeseen reversals in the pattern. Take Profit: The take profit target is set at the high of the cup. This offers an attractive near 2:1 profit-to-loss ratio, aligning with sound risk-reward principles. Risk Management: As always, traders should align this trade with their individual risk tolerance and portfolio strategy. This analysis presents a bullish case for AMEX:SPY , supported by both pattern recognition and oscillator readings. While the setup is promising, traders are reminded to conduct their analysis and consider market dynamics. Disclaimer: This idea is for educational purposes only and should not be taken as financial advice. Trading involves risks, and it is crucial to do your due diligence before making any investment decisions.
AMEX:SPYLong
by Scatman_Jeff
2
PHAU - 21 months CUP & HANDLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
MIL:PHAULong
by TheArtOfCharting
GOLD MAKES A NEW ALL TIME HIGH @ $2,146Gold - TVC:XAU A light hearted post to celebrate this incredible moment with gold pushing to a new all time high at $2,146.61c I wanted to formally invite you all to this very special tea party There is certainly enough golden tea, cups and handles for everyone who want to attend Have a golden Christmas all PUKA P.S. Have a look at my Macro Monday on Gold and Silvers Performance during recessions, you may find them useful in terms of performance and timing allocations to either in the event of. Both linked in this post. Thank you and Happy Christmas.
FX_IDC:XAUUSDLong
by PukaCharts
2
Weekly Chart Looks Breakout StrongAI, interest rate cuts, and the 2024 presidential election in the United States will likely support another steady climb in large cap tech. One year target right around $610 is the measured move from the bottom of this weekly cup and handle to the upside. Any action to that price earlier than a year from now could suggest an over-market in need of another sell off like the end of last year. Easy to hold VGT long term with setups like this one. Easy to sell if the funds are needed and the price grinds much higher over the next year. Happy hunting investors!
AMEX:VGTLong
by suddenlightness
ApeCoin: the 100X Coin Everyone Knows AboutCOINBASE:APEUSD ApeCoin has caught my attention recently. Mostly because it's flashing bullish signals with a foreseeable 10X -- if not higher -- upside. So let's check off the speculative prediction before I dive into my 1W chart analysis. With a max token supply of 1 billion tokens and a market cap of only $585M USD at the time of this idea, it's my opinion that ApeCoin could see some serious gains in the anticipated bull market. At only 1B tokens, if ApeCoin secures a market cap of $5 billion USD then its single token price would be a whopping $5.00 -- a 217% gain from the APE's current value ($1.58). While $5 billion is nothing to shrug your shoulders at, that is a relatively small market cap in crypto. I won't even compare this to Bitcoin or Ethereum since they are blockchains and on a whole different tier, but in comparison to other tokens such as Shiba Inu ($4.84B) or Doge ($11.5B), APE has a lot of room to grow. Typically tokens with this type of potential are new and extremely risky, and while there is always an inherent risk when investing in crypto, ApeCoin already has a solid reputation due to its celebrity-backed NFT collection, Bored Ape Yacht Club (BAYC). Okay, now for the 1W chart analysis: As of late October '23, the volume has began to increase with a rising token value that's nearly doubled since its low of $0.98. The On-Balance Volume (OBV) indicator shows a positive slope which suggests an increase in buying pressure with a Money Flow Index (MFI) that is resting in neutral territory. I've drawn out a projected Cup & Handle pattern with a cup profit target near $6.43 and a handle purchase target around $3.72. Should this pattern continue and become a valid Cup & Handle, I believe a breakout target of $9.17 is both likely and reasonable since the depth of the cup has a price range of $5.45. I did not annotate it on the chart but if the Cup & Handle completes then it will also form an Inverse Head & Shoulders (the head = cup and the right shoulder = handle). I think it goes without saying that there will be plenty of short-term trading opportunities during this pattern formation and, while I am optimistic on an approaching crypto bull market, there is always the chance of market sentiments turning south. Regardless, APE has most certainly caught my attention as a bright short-term and long-term investment opportunity.
COINBASE:APEUSDLong
by Shepherd_Investor
3ull second attempt at first targetTo be transparent I stuck with my plan and took my 5x by selling 33% at that dashed green like I said I would. I mark my entries with dotted greens btw. I was able to escape on a wick. Once again a candle body is being rejected at this level. I added the fib extensions to the chart and the token seems to respect them decently. You will notice a contracting RSI which means we are preparing for another big move. All EMAs are pointing upward, I did add a demand we might dip into if the teal trend line is broken. We might be seeing a 4 hour cup and handle forming which would resolve above .1$ imo. I am clearly bullish here as we approach 100 million market cap which is my next profit take.
Long
by Apollo_21mil