textbook cup and handle methinks.
Wait for price to break out of the channel.
SL = lowest low of the channel.
TP = Previous key level. Roughly same height as the depth of the cup. Approx 145 pips
Wait for price to break out of the channel.
SL = lowest low of the channel.
TP = Previous key level. Roughly same height as the depth of the cup. Approx 145 pips
Trade active
Comment:
that was emotionally draining to sit through jeez
Comment:
Stop Loss moved to entry. Running risk free. Hopefully the price will break this resistance level to reach our target.
Comment:
This pattern was an interesting opportunity but sadly the price has closed beyond the side of the breakout. Therefore, this pattern has failed. Not the end of the world, it happens.