Cups and Handles in BNB/USDT signal upside move
On the 4-hour
BNBUSDT
chart we can see two cup and handle formations. They look pretty clear to me.
The current cup has a bottom of around $10.00 and a rim at $13.85 for a height of $3.85.
If it follows the classic pattern a buy should be placed at the breakout point above the handle tend lines around $13.00 or so.
Stop loss should be set below the handle bottom trend about $11.85 or so. Always have a stop!
The target can be the height of the cup plus the breakout point. So target around $16.85. This would give a 22.8% gain. Nice!
Please LIKE this if you think this is worthwhile. If you don't like it please leave a comment and help me understand where I'm wrong.
theredbaronZ
Not Trading Advice blah blah blah. Do your own research please!
BNBUSDT
chart we can see two cup and handle formations. They look pretty clear to me. The current cup has a bottom of around $10.00 and a rim at $13.85 for a height of $3.85.
If it follows the classic pattern a buy should be placed at the breakout point above the handle tend lines around $13.00 or so.
Stop loss should be set below the handle bottom trend about $11.85 or so. Always have a stop!
The target can be the height of the cup plus the breakout point. So target around $16.85. This would give a 22.8% gain. Nice!
Please LIKE this if you think this is worthwhile. If you don't like it please leave a comment and help me understand where I'm wrong.
theredbaronZ
Not Trading Advice blah blah blah. Do your own research please!
Comment:
Still watching this formation. The trend lines are drooping a little but that is still within the classic pattern.
Of course all this TA stuff is useless if the Chinese gov. decides to jack the price one way or the other. They control over half the coin supply for this coin. Just sayin'
Of course all this TA stuff is useless if the Chinese gov. decides to jack the price one way or the other. They control over half the coin supply for this coin. Just sayin'
Trade active:
My buy order is still in for this. I'm leaving it at $12.75 for the breakout.
Trade active:
I'm betting this will get pumped in the next couple of days when the BTC freakout has reversed or at least settled down. We'll see...
Trade active:
Torpedoes running straight and true captain!
Trade active:
Rally fizzled but stop was not triggers so I'm holding on...
Trade active:
My original stop loss was too tight. I didn't actually close the trade at the original stop. I still think this trade has potential so I'm holding on for now.
Waiting waiting waiting...