This is a short term update to my previous post about a long term Cup & Handle.
There was a nice spike yesterday, and it now looks like that Bullish Pennant that formed is turning into another handle.
Going by the book, it should take us above the trendline that forms the top of the long-term triangle, but since it's so close I'm going to assume it'll stop there. So my target is still 0.005
But keep an eye out - if it breaks upward out of the triangle significantly with volume and stays above, could be a big move up! 0.0057ish would be confirmation of that for me personally.
Here's the long-term triangle on the daily chart:
There was a nice spike yesterday, and it now looks like that Bullish Pennant that formed is turning into another handle.
Going by the book, it should take us above the trendline that forms the top of the long-term triangle, but since it's so close I'm going to assume it'll stop there. So my target is still 0.005
But keep an eye out - if it breaks upward out of the triangle significantly with volume and stays above, could be a big move up! 0.0057ish would be confirmation of that for me personally.
Here's the long-term triangle on the daily chart:
Comment:
Looks like it's forming a bull pennant on the 5 min, let's see if it breaks upwards and completes more of the handle
