AlTorress

NZDHKD, Cup-and-Handle (bullish)

Long
FX_IDC:NZDHKD   NEW ZEALAND DOLLAR / HONG KONG DOLLAR
STATUS = Confirmed
CURRENT CONFIDENCE = 60%
TARGET (EXIT) PRICE = 5.104368 HKD
BREAKOUT (ENTRY) PRICE = 5.088184 HKD
DISTANCE TO TARGET PRICE = 0.15% (75.0 pips)
EMERGED ON Jul 20, 09:00 AM ( UTC )
CONFIRMED ON Jul 20, 09:00 AM ( UTC )
WITH CONFIDENCE LEVEL = 72%
The Cup-and-Handle pattern identified by Tickeron’s AI
The Cup­-and-­Handle (sometimes called Cup­-and-­Holder) pattern is formed when the price of a security initially declines and then rises to form a “U”­like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle.

The declining handle potentially forms due to mounting selling pressure created when the security tests its high at the right cup lip. After the sellers give up, the security has the potential to break out to the upside.

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