Over long entry level for patterns. Ascending Triangle noted with long entry at 193. The top of A Triangle may serve as a support level as well as handle low and mid cup.
Mid cup is 280.95. Cup low is 242.73. Cup depth is 76.46
Cup and handles are usually continuation patterns and for in bull trends. They can for in any market and any timeframe and most are considered reliable. If there are bearish patterns like rising wedges etc leading up to break-out, they become less reliable and either do not break long entry level, or experience a throwback (Breaking out then pulling back under long entry level) after breaking long entry level.
C&H patterns in the daily timeframe are formed over several weeks or months in consolidation mode. The handle forms after a price correction, as a rule, after cup formation and before a clear break to the upside.
Usually the handle is relatively small in comparison to the cup and should not dip down below mid cup level. The handle can resemble a flag formation. Many consider the pattern valid when price breaks the prior high of the cup. There are folks who enter at a break of the handle, or even during formation of the right side of the cup, but those are not considered actual long entry level according to the rules I learned. (I have done this before though (o:) We are all different.
U shaped cups are better than V shaped cups as a rule. Stops are placed under the handle low or under mid cup depending on volatility of the security, depth or the cup, your tolerance etc. After cup break out folks often use trailing stops to protect profit. Targets are placed using fib levels.
When the belief of success is stronger than the fear of failure, we can move forward.
Mid cup is 280.95. Cup low is 242.73. Cup depth is 76.46
Cup and handles are usually continuation patterns and for in bull trends. They can for in any market and any timeframe and most are considered reliable. If there are bearish patterns like rising wedges etc leading up to break-out, they become less reliable and either do not break long entry level, or experience a throwback (Breaking out then pulling back under long entry level) after breaking long entry level.
C&H patterns in the daily timeframe are formed over several weeks or months in consolidation mode. The handle forms after a price correction, as a rule, after cup formation and before a clear break to the upside.
Usually the handle is relatively small in comparison to the cup and should not dip down below mid cup level. The handle can resemble a flag formation. Many consider the pattern valid when price breaks the prior high of the cup. There are folks who enter at a break of the handle, or even during formation of the right side of the cup, but those are not considered actual long entry level according to the rules I learned. (I have done this before though (o:) We are all different.
U shaped cups are better than V shaped cups as a rule. Stops are placed under the handle low or under mid cup depending on volatility of the security, depth or the cup, your tolerance etc. After cup break out folks often use trailing stops to protect profit. Targets are placed using fib levels.
When the belief of success is stronger than the fear of failure, we can move forward.
Comment:
Not a recommendation