No true handle has formed as of yet. A handle is a zone of strong support underneath long entry level. Long entry level is a level above looming resistance associated with the pattern one is trading. In this case I placed it just above the high of the left (sell side) of the cup.
It is often best to wait until this is reached unless you already own the security in question.
Sometimes price will go back down and form a handle after long entry level was met. In this case if price goes back below entry long (EL) then some would call this a Throwback. A Throwback occurs when price breaks EL but closes back below EL in a short amount of time. Throwbacks differ from pullbacks and can hurt performance.
Bearish Harami/spinning top so far today but this candle pattern needs confirmation with a 3rd candle.
No recommendation.
Targets for a cup are guesstimated using the cup depth which is 81.41 and fib levels are applied.
No recommendation.
It is often best to wait until this is reached unless you already own the security in question.
Sometimes price will go back down and form a handle after long entry level was met. In this case if price goes back below entry long (EL) then some would call this a Throwback. A Throwback occurs when price breaks EL but closes back below EL in a short amount of time. Throwbacks differ from pullbacks and can hurt performance.
Bearish Harami/spinning top so far today but this candle pattern needs confirmation with a 3rd candle.
No recommendation.
Targets for a cup are guesstimated using the cup depth which is 81.41 and fib levels are applied.
No recommendation.