I've slightly extended the handle, but targets are still the same. This works out nicer because it brings us directly to the top of the downtrend line. No guarantees but we look set to hit that point, and when we do I would be very surprised if we don't breakout soon after! That's when you will really see the volume pouring in confirming the bulls gaining full control.
Of course the breakout won't immediately hit my targets and will take some time, but I do expect this to happen. To those that have said you can't call a cup and handle pattern until it completes, your right and I have said this previously. But understanding how these patterns work and trying to best speculate the outcomes is what traders do. It prepares you for buying and selling opportunities using formulated trading plans.
Of course the breakout won't immediately hit my targets and will take some time, but I do expect this to happen. To those that have said you can't call a cup and handle pattern until it completes, your right and I have said this previously. But understanding how these patterns work and trying to best speculate the outcomes is what traders do. It prepares you for buying and selling opportunities using formulated trading plans.