HBAR has formed a clear cup & handle formation, and is nearly completed the handle. All that's left at this point is for the price to breakout of the handle wedge.
I would be cautious with this particular play, and look for a bullish engulfing candle previous to the breakout candle, and run a tight stop until you breakout above the upper cup trend line. (White dashed line)
thank you, just a question, what would invalidate the cup and handle? if price breaks support at .....?
MetaShackle
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@Dogg561, It depends on many factors; your account size, risk-tolerance, amount of leverage you trade with. Really, you're the only person who can answer that question, there's no magic recipe when it comes to trading. I would suggest using the Stochastic Momentum Index (SMI) by surjithctly, and learning to use it, it helps time entries and exits like a dream for me.
Dogg561
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@MetaShackle, thank you for your reply. but the invalidation of a cup and handle shouldnt be associated with the factors you mentioned above. i am sure there is a price, if broken, would invalidate the structure of a cup and handle?
MetaShackle
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@Dogg561, There are no guarantee's in trading. There's no guarantee that the cup & handle pattern will play out in a positive fashion either. Assess the pattern, and make the choice that's right for you. There's no magic number in trading, that's all B.S!