After a sell trade not taken on invalidation of an H & S, here is my next trade proposal :
this time buyer, on a bullish breakout of a Cup & Handle.
Positioning of the opening, target and stop loss threshold on the chart.
DISCLAIMER: This is not an investment advice. You are solely responsible for your positions.
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This Rising Wedge was successful where the previous Rising Channel failed: break up the oblique line of bearish trend traced from the top!
Be careful, however, that this is not a fake breakout, because the Rising Wedge is above all a reversal pattern with bearish output as represented below:
Hence the importance of having placed my opening of trade buyer above the bullish breakout of the Cup & Handle line!
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Evolution as expected under the oblique resistance:
Trade active
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We are approaching the breakout line of the Cup & Handle, pattern to which are added two other bullish signal patterns: an Inverted H & S drawn in white below, and now the bullish breakout of an ascending triangle drawn in blue below: