Helical_Trades

KSM/USDT : Cup and Handle formed, $660 is programmed !

Long
BINANCE:KSMUSDT   KSM / TetherUS
BINANCE:KSMUSDT
Hello everyone 😃
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#KSM has formed a Cup and Handle here, Also there is a breakout on the higher resistance zone .
- We had failed breakout earlier but this time might have more proven bullish momentum because of Cup & Handle .
📑 Target of the pattern will be 227 unit growth and it'll give us the minimum target of $660 ( 52% growth ).
- Also FIB extension's target on 0.50's level is located near above to $660 !

But what is Cup & Handle and how it works ?
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift.
The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume .
The pattern's formation may be as short as seven weeks or as long as 65 weeks.

It is worth considering the following when detecting cup and handle patterns:
- Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal. Avoid cups with a sharp "V" bottoms.
- Depth: Ideally, the cup should not be overly deep. Avoid handles that are overly deep also, as handles should form in the top half of the cup pattern.
- Volume: Volume should decrease as prices decline and remain lower than average in the base of the bowl; it should then increase when the stock begins to make its move higher, back up to test the previous high.

🔴 On this such charts, You can set your SL below the broken resistance zone as 2-3 candles close to avoid the LOW R:R and possible Stop-Hunts !

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Attention: this isn't financial advice we are just trying to help people on their own vision.

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@Helical_Trades

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