Targets listed are for the cup and handle pattern. Looks like DBX was breaking out and experienced a throwback. I need to check earnings release. It looks like another cup is trying to form on the handle but I think the handle low has pulled back too far.
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Mid cup is 20.90. Support can be found at handle low and mid cup. These 2 are close together on DBX, forming a band of support.
There is also an ABC pattern. To find targets, subtract A from B giving you the length of the AB leg. Then take that number and multiply it by 0.382, 0.618 and .786. Sometimes I just use .38, .62 and .79 of the AB leg length. If the lower fib levels are reached, try for 100 percent, 1.27 and 1.618 levels, keeping an eye on trend, overbought levels and resistance overhead. I am not bound by the holy grail to fib levels but some folks like to be exact. With projecting targets and recognizing harmonic patterns, they do come in handy. Anyway, look for you BC leg finding C.
I like the auto fib tool on here but it does not always download to correct location for some patterns and you can not move it. But for ABC bullish patterns, it usually finds C with ease if C is C and if you have the tool turned the right way on your chart (there is a reverse option in settings). As a matter of fact, if I think it is an ABC pattern and the 0 on the chart is too high or too low, I do a retake on whether I am correct or not. The 0 fib level should be at C.
The numbers you come up with are added to long entry level and not to C. The numbers do not always match the fib table as it starts from C. The numbers will be close if long entry level is not far from C. Sometimes long entry level is not super close to C and then the numbers do not match at all. You want to be sure long entry level is not at a big pile of resistance. This is one of those that is easier to tell after the pattern has broken verses beforehand. So, again it is subjective but is an important value in the target calculation. Some folks may add the levels to C. We are all different.
Long entry is a break of the BC leg with an uptrend. This can be subjective. Stop is often placed a bit below C. The target is D.
For this pattern C has to be higher than A, and of course B is higher than A or C.
There is a red long legged dogi where DBX had earnings. Sometimes the bottom tail can make good support. It is like the tail dipped to that point and stopped. Not always a point of support but can be especially if there are a few stopping at same level.
Not a recommendation.
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Mid cup is 20.90. Support can be found at handle low and mid cup. These 2 are close together on DBX, forming a band of support.
There is also an ABC pattern. To find targets, subtract A from B giving you the length of the AB leg. Then take that number and multiply it by 0.382, 0.618 and .786. Sometimes I just use .38, .62 and .79 of the AB leg length. If the lower fib levels are reached, try for 100 percent, 1.27 and 1.618 levels, keeping an eye on trend, overbought levels and resistance overhead. I am not bound by the holy grail to fib levels but some folks like to be exact. With projecting targets and recognizing harmonic patterns, they do come in handy. Anyway, look for you BC leg finding C.
I like the auto fib tool on here but it does not always download to correct location for some patterns and you can not move it. But for ABC bullish patterns, it usually finds C with ease if C is C and if you have the tool turned the right way on your chart (there is a reverse option in settings). As a matter of fact, if I think it is an ABC pattern and the 0 on the chart is too high or too low, I do a retake on whether I am correct or not. The 0 fib level should be at C.
The numbers you come up with are added to long entry level and not to C. The numbers do not always match the fib table as it starts from C. The numbers will be close if long entry level is not far from C. Sometimes long entry level is not super close to C and then the numbers do not match at all. You want to be sure long entry level is not at a big pile of resistance. This is one of those that is easier to tell after the pattern has broken verses beforehand. So, again it is subjective but is an important value in the target calculation. Some folks may add the levels to C. We are all different.
Long entry is a break of the BC leg with an uptrend. This can be subjective. Stop is often placed a bit below C. The target is D.
For this pattern C has to be higher than A, and of course B is higher than A or C.
There is a red long legged dogi where DBX had earnings. Sometimes the bottom tail can make good support. It is like the tail dipped to that point and stopped. Not always a point of support but can be especially if there are a few stopping at same level.
Not a recommendation.