only for self study
The cup with handle is a continuation pattern.
The classic strategy :
Entry: Take a long position at the breakout of the neckline
If hourly closing above neckline is seen
place buy order near 1.09961
Stop: The stop is placed below the neckline
Target: Theoretical target of the pattern
Advantage: The target price is often reached (73% of cases)
Disadvantage: Pullbacks are usual (74% of cases)
If rejected take a short with latest high stop
The cup with handle is a continuation pattern.
The classic strategy :
Entry: Take a long position at the breakout of the neckline
If hourly closing above neckline is seen
place buy order near 1.09961
Stop: The stop is placed below the neckline
Target: Theoretical target of the pattern
Advantage: The target price is often reached (73% of cases)
Disadvantage: Pullbacks are usual (74% of cases)
If rejected take a short with latest high stop