This is called a high handle. Your left cup is at 1.18 and your handle starts at 1.40 which 18% above the left cup. William O'Neal, who first identified this pattern, said that for a high handle the handle should be no more than 5% above the left cup, so according to his guidelines, this is not a valid cup and handle. I see you like identifying cup and handle chart patterns, so take a look at http://www.breakoutwatch.com, we identify many of them every day.
Mike Gibbons ((email@example.com))
Thank you for your information.. but it had nearly the same or the same spike potential like a "real" cup and handle pattern..
Today it broke 1.41 and went up to 1.90 congrats to all who bought down there.