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George-Zim
Aug 7, 2020 9:18 AM

USDCAD - Cup And Handle Long

U.S. Dollar/Canadian DollarFXCM

Description

>In an uptrend, price action finds first resistance (1), where it reverses direction and goes
downwards steadily till finding first support (2), which will be the lowest low in the pattern.
• Price action reverse direction from support (2) and goes upwards steadily, till finding the
second resistance (3) and completes the cup formation.
• Price action reverse direction from resistance (3) and goes downwards, till finding the
second support (4), which must be higher than the first support (2).
• The pattern is completed when price action reverse direction from (4) and goes upwards till
it breaks the cup and handle surface at point (5).

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Comments
Dave-FX-Hunter
nice analysis, i wish you success
George-Zim
@DaweFXHunter, Thank you
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