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Cup And Handle

GOLD (XAUUSD): One More Bearish Wave is Coming?! 🥇 I would say that the month of April was very weak for Gold. Even though the market updated the ATH and we saw quite a strong rally at the beginning of the month, bulls quite quickly lost the momentum. We can even conclude that the rally finally stopped and the market started to consolidate within a horizontal range. For the last 10 days we see a steady shift in sentiment. The price formed the first strong bearish candle and we also set the first lower high. This week, we see the sign of strength of the sellers again with a formation of one more strong bearish candle. After a strong bearish movement on Tuesday, we can also confirm a formation of a bearish reversal pattern: an inverted cup & handle formation. At the moment, the last resort for the buyers is a wide horizontal demand zone: 2265 - 2290. That structure, is also the neckline of the pattern. Its bearish violation will confirm the initiation of a correctional movement on Gold. A daily candle close below the underlined area will push the prices lower. The goal for the sellers will be 2220 support. I will change my bias to bullish, only in case of a violation of a resistance area based on a handle. If a daily candle closes above that, I will anticipate a bullish continuation. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
1
ALBRK - 7 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.
BIST:ALBRKLong
by TheArtOfCharting
EURJPY Cup and Handle Hello Traders! Let's delve into the EURJPY daily chart, where an intriguing opportunity is unfolding. The current setup illustrates a U-shaped pattern, resembling a classic cup and handle formation within an existing uptrend. A distinctive U-shaped pattern, indicative of a cup and handle formation. Noteworthy uptrend in the market, enhancing the validity of the pattern. Critical Price Level: The price is approaching a crucial breakout point at 164.308. Anticipation of a potential retracement, possibly forming a handle, before the decisive breakout. Scenarios to Consider: Two likely scenarios regarding the breakout: The price might experience a fakeout at 164.308, followed by the formation of a handle before a genuine breakout. Alternatively, the handle formation may precede the breakout. Implement stops strategically at the mid or below the breakout bar. Initial target levels: 62% at 171.140 and 79% at 172.867. Cup and handle patterns, especially on daily charts, hold significance. Fibonacci levels, when applied, often provide robust support and resistance, potentially influencing the market for up to six months. Keep a close eye on EURJPY as the cup and handle strategy develops. The market is showing promising signs, and potential opportunities lie ahead. 📊 Follow-Up Plan: Look out for possible retracements or the formation of a handle. Stay tuned for updates as the price approaches the critical breakout level at 164.308. 👁️ Stay Informed: Bookmark this analysis for future reference. Subscribe for timely notifications on further developments. 👍 Like and Share the Idea: If you find this analysis insightful, don't forget to like the post! Share with fellow traders to spread the word. 📈 Trading Reminder: Remember, trading involves risks. Always implement sound risk management practices. 🔔 Notification Squad: Be part of the notification squad to receive real-time updates. Let's navigate the markets together! Happy trading, and see you on the next update! TCPLTP
Long
by TradeChartPatternsLikeThePros
GBPJPY Cup and Handle Pattern Hello traders! 🌟 I hope you're having a fantastic weekend. As we gear up for the trading week, I've spotted an exciting opportunity on GBPJPY that I wanted to share with you. Trading Setup: GBPJPY Cup and Handle Pattern ☕🖐️ The chart reveals a classic Cup and Handle pattern. Key Breakout Level: Keep an eye on the breakout level at 188.661. Cup and Handle patterns work best when there's a confirmed breakout above the level mentioned. Once we see that breakout, consider placing your stops at the mid of the handle to manage risk effectively. Profit Targets: 🎯 Potential targets are set at 62% (194.987) and 79% (194.987) levels. Watch out for a surge in volume during the breakout; it confirms active participation. You might want to secure some profits at the 38% retracement level (192.581). Stay Updated: 📡👀 Keep an eye out for real-time updates and further price action. Your likes and comments are always appreciated. TCPLTP
Long
by TradeChartPatternsLikeThePros
Down with the clownMy plan is to buy NYSE:MCD puts on Monday before earnings. This idea is based purely on technical analysis, which I think sufficiently supports the theory that the price will go lower in the short term. However, in the broader scope, this drop could produce a great buying opportunity for those looking to go long. The weekly chart shows last week’s solid green candle closed right below the 100 period SMA. NYSE:MCD has not dropped below the 200 period SMA since March 2020, so I think the overall trend will stay intact once this downtrend has concluded. I will support my thesis by analyzing price levels, trend patterns, moving averages, volume analysis, and RMI. On the daily chart, we can see NYSE:MCD has been in a downtrend since late January. A lower high of $279.82 was made last week and unless a higher high is made, we will be trying to find a lower low. This is also clear on the Awesome Oscillator (AO) & MACD indicator. AO confirms the price is in a strong downtrend while MACD is positive and descending back towards the zero line. The Volume profile shows the price is currently in an accumulation zone, however the RMI Trend Sniper just gave a bearish signal. I would expect the price action from here to play out like the previous cycle, which saw a 14% drop after the signal was given. I doubt the price will go down by that much since there is significant historical support at the 0.75 level. Due to the timing of this earnings release and other factors that could influence the market this week, I could see the price going as low as $253 in the near term, before finding support around $258 and reversing back into an uptrend after May. NYSE:MCD is currently in a strong downtrend on the 4hr chart since the end of February. AO and MACD are close to crossing to the negative side, so it appears we will be heading lower soon. I’m looking for an opportunity to buy puts at $277 on Monday at some point. MCD is currently below the 50, 100, & 200 SMAs. The 200 SMA was rejected upon retest which supports the idea that we’re moving to lower lows. It’s also noteworthy that this pattern looks like an inverse cup & handle. The technicals are pointing to further downside for this stock while keeping with the longer trend. This makes for a great swing trading opportunity or a good indicator for buyers that lower prices are yet to come. Let me know what you think of my assessment of NYSE:MCD or if your charts are making you draw a different conclusion. Thanks for reading!
NYSE:MCDShort
by ap769
5
HBAR/USDT CUP & HANDLE TARGETAfter a 2-year accumulation phase, Hbar broke out of its major resistance level, and I believe this is the start of wave 1 of 5. The chart shows linear and logarithmic one-to-one price extensions of cup & handle patterns. There was a massive volume spike across multiple exchanges including Binance. I have set the target area where the price level converges with fib retracement targets. However, I believe Hbar will ultimately break out of this entire structure and continue to rise in price. I expect a minimum market cap of GETTEX:70B to $100B for Hbar, as it is an outstanding project with advanced technology and significant public adoption. Please note that this is not financial advice, only my personal opinion. Good luck with your investments.
Long
by ofehi
10
LVHM owns Sephora: Developing patternFundamentals: Buffett check stock ~ Do you like to consume LVMH and/or Sephora? If so, why not own the stock? LVMH owns Sephora so it is a double whammy. This is not a normal super stock that I like to buy. It consists of a different strategy with a bit of a Warren Buffet blend. We are looking at 3-year growth, yearly EPS, sustainability of growth and ROE. LVHM fits this bill. Technicals: Cup-with-handle pattern within stage 3 ichi development. pb to 50% in the cloud a-b-c extension with a pullback to "X" 5emas pb strategy + 1st pb of new trend spinning top/harami candle pattern with high volume at support entry: 175 target: 220 to 250 stop loss watch: price closing back below 155.
OTC:LVMUYLong
by Rocketman
DexCom with Growing FundsFundamentals: Develops glucose monitoring systems. This stock meets 80% of my parameters. I wouldn't have considered it if the earnings were not above 20%. I do not like the stability of the earnings and I do not like the trajectory of the earnings, though. However, I do like the accelerating sales. Funds and quality funds began to grow into this stock again. I am taking a small position. Earnings comes out tomorrow and the market will speak. Technicals: Daily chart Daily uHd at key support on top of a larger cup with handle pattern Weekly: 5 EMAs MACD pullback with ADX trend within a cup-with-handle pullback onto horizontal support
NASDAQ:DXCMLong
by Rocketman
Verge (XVG), over 100% upside potentialBINANCE:XVGUSDT , 4h On the daily timeframe, price is trading around a previous swing low area which is also above the 200SMA suggesting the long term trend is bullish. On the 4h, two chart patterns are emerging; 1) Descending Triangle & 2) Cup and Handle. It is prudent for traders to wait for break out or break down of the pattern to initiate a trade. For a long entry, trade could be initiated after the breakout of either chart patterns but stop loss could be tricky on this one. 1) For the descending triangle, SL goes below the swing low, that is the horizontal base of the pattern. 2) For the Cup and Handle, a tight SL could be set just below the low of the cup’s handle (green circle) Take Profit (TP) targets could be the previous support area turned support (red rectangle) with subsequent targets at the various market structure levels indicated with the red circles. As always, ‘’anything can happen’’ so let’s be patient as the market unfolds. #DYOR
Long
by daymouse
🚀Solana to $400 🚀🤑and higher! 1:6.3 RRRWith the Bitcoin halving now complete, I'm now back to looking for buying opportunities. We all know that Solana is a super-solid project despite the hiccups the chain has had over the past few weeks. The BINANCE:SOLUSDT price chart on the weekly timeframe shows that Solana broke above the key flip Zone a little over a month ago. Over the last two weeks, we've retested that flip zone and the wicks indicate that zone is holding, keeping the price above $116. While I'm waiting for a solid close of the 2-Day candle and of the weekly candle, I'm now more certain that Solana is ready to head higher. My first major price target where I expect we'll see a sell-off is $400.
Long
by theblueinvestor