@Se7enSkies the target of this example is exactly the same as the target of the cup & handle of the XLM chart
Se7enSkies
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Se7enSkies
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Some say because the cup has corrected too much it can no longer be a cup and handle but this is not stock market this is crypto the volatility of the market allows for deeper cups without impacting the formation of the cup and handle pattern
Se7enSkies
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You’re right on the chart being bullish and that XLM is trading within an ascending channel. The channels have been drawn very poorly. You either connect the closing price of the candles to each other, or you connect the shadows to each other, but yours is a hybrid. I feel like one reason for doing this is that you’re too worried the targets would be extremely high when you connect the shadows or the closing prices of candles. I’ll show you two examples and compare my channels to your channel. I do not claim to be right in any way. I just know the way I think an ascending channel must be drawn is not the way you have drawn it.