Price has broken through upper bollinger band which may inicate a pull back very soon. The bands are set on an 80 moving average verses a 20 MA.
May be best to fight FOMO (fear of missing out) and go long after price gets back inside the bands where they reside as a rule (o:
The handle low (HL) and Mid Cup (MC) can both provide support. In case of an emergency, the top of that gap would be very strong support.
Cup depth of 71.13 is used to calculate targets. I set Long entry a bit above the left cup high, I add the targets to the long entry level verses the left cup high. This could differ depending on how you learned to do this and we are all different. I use the .386, .618 and .786 levels for calculating targets 1, and then above that for longer term targets 2. There is always a possibility of a throwback (when price breaks out but returns below long entry level in a short period of time).
To find handle low, look for a horizontal areaa of consolidation in price. Sometimes there is not really a true handle, but they are nice to have (o:
Some consider this pattern invalidated if the handle low reaches below mid cup.
Not a recommendation
May be best to fight FOMO (fear of missing out) and go long after price gets back inside the bands where they reside as a rule (o:
The handle low (HL) and Mid Cup (MC) can both provide support. In case of an emergency, the top of that gap would be very strong support.
Cup depth of 71.13 is used to calculate targets. I set Long entry a bit above the left cup high, I add the targets to the long entry level verses the left cup high. This could differ depending on how you learned to do this and we are all different. I use the .386, .618 and .786 levels for calculating targets 1, and then above that for longer term targets 2. There is always a possibility of a throwback (when price breaks out but returns below long entry level in a short period of time).
To find handle low, look for a horizontal areaa of consolidation in price. Sometimes there is not really a true handle, but they are nice to have (o:
Some consider this pattern invalidated if the handle low reaches below mid cup.
Not a recommendation