STATUS Confirmed
CURRENT CONFIDENCE = 61%
TARGET (EXIT) PRICE = 1.069810 AUD
BREAKOUT (ENTRY) PRICE = 1.067345 AUD
DISTANCE TO TARGET PRICE = 0.24% (25.9 pips)
EMERGED ON Jun 30, 09:00 PM (UTC)
CONFIRMED ON Jun 30, 11:01 PM (UTC)
WITH CONFIDENCE LEVEL = 72%
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a pair or a call option at the upward breakout price/entry point. To identify an exit, compute the target price for the Cup-and-Holder pattern by adding the pattern’s height (the difference between the highest high and the bottom of the cup) to the price at the right cup lip. The confirmation move is when the pair moves past the breakout price above the right cup lip.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
CURRENT CONFIDENCE = 61%
TARGET (EXIT) PRICE = 1.069810 AUD
BREAKOUT (ENTRY) PRICE = 1.067345 AUD
DISTANCE TO TARGET PRICE = 0.24% (25.9 pips)
EMERGED ON Jun 30, 09:00 PM (UTC)
CONFIRMED ON Jun 30, 11:01 PM (UTC)
WITH CONFIDENCE LEVEL = 72%
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a pair or a call option at the upward breakout price/entry point. To identify an exit, compute the target price for the Cup-and-Holder pattern by adding the pattern’s height (the difference between the highest high and the bottom of the cup) to the price at the right cup lip. The confirmation move is when the pair moves past the breakout price above the right cup lip.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.