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Cupandhandlepattern

ALGN WCA - Cup and HandleCompany: Align Technology Inc. Ticker: ALGN Exchange: NASDAQ Sector: Healthcare Introduction: In today's analysis, we are examining Align Technology Inc. (ALGN) listed on the NASDAQ, a key player in the healthcare sector. The weekly chart shows us a potential bullish reversal in the form of a classic Cup and Handle pattern that has been taking shape over the past 448 days. Cup and Handle Pattern: The Cup and Handle pattern is a bullish continuation or reversal pattern that resembles a teacup with a handle on the right side. It is characterized by a rounded bottom, followed by a small pullback forming the handle. Analysis: Align Technology's previous trend was downward, depicted by the diagonal blue dashed resistance line. However, this downward trend appears to be interrupted by a Cup and Handle pattern, indicating a potential reversal to the upside. The horizontal neckline of the pattern is located at 367.91. The 200 EMA, currently at 348.74, is located near this horizontal neckline, underscoring the importance of this zone. The price is above the 200 EMA, signifying a bullish environment. In case of a successful breakout above the neckline, a long position may be considered. The price target in such a scenario would be 561.52, representing an estimated rise of 52.58%. Conclusion: Align Technology's weekly chart presents a promising bullish reversal setup. This setup, if confirmed by a breakout above the neckline, could offer an attractive long trading opportunity. Please remember, this analysis should form part of your overall market research and risk management strategy, and is not direct trading advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
NASDAQ:ALGN
by KarimSubhieh
NKLA round bottom reversalNKLA has reversed a trend down in the past week as it clear concerns with potentially being delisted with NASDAQ. The symmetry in the trends is shown with an arc overlaid. This brings to mind a cup and handle pattern in progress. It seems likely the NKLA will have a bullish continuation from the good news of stability of its NASDAQ listing. Potential buyers on the sidelines may take positions and generate momentum. I will trade a long trade early in this upcoming shortened trading week. The longer-term anchored VWAP provides support as so just under that will be the stop loss. The first target is 1.70 which was a resistance level a few weeks ago.
NASDAQ:NKLALong
by AwesomeAvani
3
Unity. Inverse Head and Shoulder forming. + Bullish divergenceHey folks, Another Inverse Head and Shoulder pattern with bullish divergence. My favorite pattern to trade, especially on these longer time frames. I am also noticing micro h and s patterns within in the smaller time frames on various stocks. Besides the lackluster market response to its AI features, U hasn't had a whole lot going on fundamentally, noteworthy at least, but I'm picking up on the metaverse trend building steam again. This one is a great metaverse play. I'll lock in profit accordingly. Around $42, $58, $65 and save some for all mighty $100 liquidity zone. I think mid July could see some nice action. Happy trading! OnePath
NYSE:U
by OnePath
6
📈 4 BULLISH PATTERNS YOU NEED TO KNOW📌How to easily identify these patterns? 🟢Cup and Handle Pattern The cup and handle pattern is a bullish continuation pattern that typically occurs after a significant uptrend. It is characterized by a U-shaped "cup" followed by a smaller consolidation known as the "handle." The cup portion represents a temporary pause or correction in the price, forming a rounded bottom. This signifies that selling pressure has diminished, and buyers are stepping in. After the cup formation, the handle is formed as a slight downward drift in price, usually in the form of a small consolidation or a shallow retracement. The handle represents a final consolidation before the resumption of the bullish move. The handle should be relatively smaller in size and have a downward-sloping price action. 🟢Double Bottom The double bottom pattern is a bullish reversal pattern that signifies a potential trend reversal from bearish to bullish. It consists of two consecutive lows that are approximately at the same level, forming a support level. The first low represents a selling climax or a period of intense selling pressure. After the first low, the price rebounds and retraces to form a temporary high, creating a potential resistance level. However, buyers step in again, pushing the price back up, resulting in a second low that matches or is very close to the level of the first low. This double bottom formation indicates a significant level of support where buying interest outweighs selling pressure. 🟢 Bullish Flag The bullish flag pattern is a continuation pattern that occurs after a strong upward move in price. It is characterized by a brief period of consolidation, where the price forms a narrow and rectangular range, resembling a flagpole and a flag. The flag portion of the pattern is typically slanted in the opposite direction of the initial price move. The flagpole represents the initial strong upward move, indicating a surge in buying interest. Following the flagpole, the price enters a consolidation phase, represented by the flag. This consolidation allows the price to stabilize and absorb selling pressure. The flag pattern should have parallel trendlines that contain the price action. 🟢Inverse Head and Shoulders The inverse head and shoulders pattern is a bullish reversal pattern that indicates a potential shift from a bearish to a bullish trend. It consists of three consecutive lows, with the middle low (the head) being lower than the two outer lows (the shoulders). The pattern resembles a head between two shoulders. The left shoulder forms as the price declines, followed by a subsequent rally to create a temporary high. The price then retraces, forming the head, which is lower than both the left and right shoulders. After the head, the price rallies again to form the right shoulder, which is usually slightly higher than the left shoulder. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
Long Trade in UUnity is a big player in the metaverse space since the company specializes in real-time 3D content. The company is also deep in AI development which is a space I want as much exposure to as possible. The stock has had a hard time getting above the $43 level, but the recent surge in volume looks like the fuel it needed to power to new highs. If you zoom in on a daily chart, you will also notice a cup with handle pattern forming here. The big clue for me is the volume. Look at the big surge of activity as the stock ramped up the right side. There is a huge appetite for this stock which is unsurprising given the AI theme of the current bull market.
NYSE:ULong
by rossgivens
AXS/USDT LONG SETUP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to the AXS/USDT trade setup. AXS looks good here. Breaks out from the cup and handle pattern in 4hr time frame and currently retesting the neckline. After this successful retest, we can expect a good 30-35% move to the upside. Long some here and add more in the dip. Entry range:- $6.10-$6.25 Target1:- $6.80 Target2:- $7.44 Target3:- $7.86 Target4:- $8.30 SL:- $5.90 Use low leverage (5x-6x) If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
2
🚀💥 Unleash Profits NASDAQ Buy Signal! Don't Miss Out! 💰💥 Get ready to ride the wave of potential profits as NASDAQ presents a compelling cup and handle pattern—a highly reliable setup that often leads to significant price gains. What makes this setup even more enticing is the neckline, which is positioned at the critical level of 15,000. Breaking above this level signals a significant shift in market sentiment, as it now acts as a solid support, attracting eager buyers looking for opportunities to join the uptrend. With the breakout now confirmed, it's the perfect entry point to jump on board this bullish rally. Keep your sights set on profit targets, starting with 15,150, followed by 15,300, and ultimately aiming for 15,450. Remember to monitor the market closely and adapt your strategy as necessary. Keep an eye on key technical indicators and price action to validate the bullish momentum. And of course, always stick to your risk management plan to ensure a successful trade. Don't miss out on this exciting opportunity to ride the NASDAQ to new heights! Buckle up, stay focused, and let's navigate the markets together. 🚀📈💪 Don't forget to press the like button if you think this insight was helpful🚀
OANDA:NAS100USD
by Thomas_Zito
2
NIFTY IN SUPER BULLISH MODE READY TO BULLISH INDIA NIFTY SPOT TARGETS UPDATED TARGETS BASED ON MONTHLY CHART - BULLISH FLAG WITH CUP AND HANDLE PATTERN. FOR EDUCATIONAL PURPOSE Tgt 1 : 20243± (SHORT TERM) Tgt 1 (A) : 21132± (SHORT TERM) Tgt 2 : 22465± (LONG TERM - Maximum by Dec 2024) Tgt 2 (A) : 25598± (LONG TERM - Maximum by 2026) Tgt 1 & Tgt 2(A) tracking From 31/08/2022 when Nifty spot was trading at 17759. Tgt 1(A) & Tgt 2 tracking From 01/06/2023 when nifty was trading at 18579. Note : The above is my personal view based on chart pattern and shared it for educational purpose only. In between ups and downs are quite common. Market will test us by some dips. No Gain without Pain. Tgts get invalid when Nifty spot closes below 15000 If any Changes in the chart pattern I will share it during that time. Used Support, Resistance, Chart Pattern and My Eyes as an Indicator. Chances of hitting the tgt based on Chart Pattern 70 - 80% Rest MARKET IS SUPREME. Let's see how Market Behaves. STAY INVESTED & ENJOY THE RALLY
NSE:NIFTYLong
by senthilkumar1976
2
Bitcoin ($BTC) 3 Bullish scenariosLeft Chart: 1. I have displayed a head and shoulder formation that could take around 42k BTC. I already posted this scenario a couple months ago on my Twitter twitter.com Middle Chart 2. I drew an ABCDE move on the middle chart for longer-term and mid-term price forecasts. The short-midterm ABCDE move, which we have just confirmed/completed, suggests that we were about to reverse towards the upside creating an S/R (Support Resistant) Flip. As for the green wave, we have just finished our C move and bounced off the new demand zone, completing our D move as the price will likely move up as we are currently trending the upside to complete our E move. Targeting aorund 42k based on the 0.5 fib level Right Chart 3. Simple cup and holder formation that could take us to around 47k BTC.
Long
by yoyokenwan
USDJPY What will happen in the near future?🌟The USDJPY is in a Bullish phase by ⤵️⤵️ 🌟 Bullish signals are: - Bullish Cup & Handle - Bullish Pennant - Dynamic Support zone - Pivot R1 monthly - Ascending Triangle - moving EMA 20 50 ✅TARGETS: 142,148 ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from bottom Of the PRZ zone , this analysis of ours will be failed. ⏮️Previous Analysis⏮️ ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
7
Final Analysis on QQQ ( short term and long term explained )$$$ Based on the chart, it appears that a cup and handle pattern is emerging on the weekly timeframe. Given the current overbought conditions in the market, I have a strong expectation of a significant correction in the second half of the year. I have a sense that we have reached a peak, as there is considerable resistance suggesting a sell signal. Based on my analysis, prices are likely to decline further as the handle forms, eventually leading to a breakout towards the end, signaling the start of a real bull run.
NASDAQ:QQQ
by thekidtrader11
🔥 Bitcoin Bullish Cup & Handle Pattern: Wait For Confirmation!BTC saw two huge bearish and bullish moves over the last two days. This morning, BTC found resistance around the most recent local top around 27.5k and corrected downwards. Assuming that the most recent minor low of 26.4k is going to hold, a bullish cup & handle pattern will likely form on the chart. Keep in mind that this pattern has not yet been confirmed. It will be confirmed once the price will break through 27.5k, will will also activate the trade. Target placed at the 2023 top area of 31k for a decent 2.9 risk-reward ratio.
BINANCE:BTCUSDLong
by FieryTrading
18
Learn How to Trade Cup and Handle (rare but profitable pattern)☕ If you are studying a price action, you should definitely know Cup and Handle formation. Being applied properly, it can generate big profits. In this educational article, I will teach you how to identify this pattern. We will discuss its psychology and I will share with you 2 trading strategies. 📏And let's start with the structure of the pattern. The pattern has 3 important elements: Cup - long-term correctional movement that tends to move steadily from a bearish trend to a bullish trend. Handle - short-term correctional movement with signs of bullish strength. Neckline - upper horizontal boundary of the pattern - a strong resistance that the price constantly respects. ⚠️Being formed, it warns you about a highly probable coming bullish movement. The trigger that confirms the initiation of a bullish wave is a breakout of the neckline of the pattern and a candle close above. Here is the example of a completed C&H with a confirmed neckline breakout, indicating a highly probably coming bullish movement. Depending on the preceding price action, Cup & Handle Pattern can either be a trend-following or reversal pattern. 📉If the pattern is formed after a bearish impulse. It is considered to be a reversal pattern. Here is the example of a reversal C&H that I spotted on EURUSD. 📈If the pattern is formed at the top of a bullish impulse, it is considered to be a trend following pattern. Here is the example of a trend following C&H that I spotted on GBPJPY Index. The thing is that while the price forms the C&H, buying volumes are accumulating. Even though, buyers are hesitant and reluctant initially, their confidence grows, and the accumulation leads to explosive neckline breakout. There are 2 strategies to trade this pattern. ✔️Strategy 1. That approach is quite risky, but the reward can be quite substantial. You should monitor the price action when the price is forming a handle. Occasionally, the price starts trading in a falling channel: parallel or contracting one. Your trigger will be a bullish breakout of its resistance and a candle close above. Once the violation is confirmed, you can buy aggressively or set a buy limit order on a retest. Stop loss will lie below the lows of the channel. Target will be the closest key resistance. Here is the example of the handle being a falling channel. 📍Strategy 2. Wait for a breakout of a neckline of the pattern. Once a candle closes above that, it will confirm the violation. Buy the market aggressively or set a buy limit on a retest of a broken neckline then. Stop loss will lie below the lows of the handle. Target will be the closest key resistance. Here is the example of the trade based on a confirmed breakout of a neckline of C&P on NASDAQ Index. Applied properly, the strategies may reach up to 70% win rate. As always, the best pattern will be the one that forms on a key level. Try it, test it, and good luck in your trading journey. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
9