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Cup and Handle pattern formed right below the strong horizontal resistance. It is recommended to open long only on a breakout of Horizontal Resistance.
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I would look at the 38.2% fib of the swing low to swing high of the 'cup'
UnknownUnicorn6061584
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@TayFx, if I did not get mistaken you mean for short. Agree with you if this level crossed better to look at short side
TayFx
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@david_smith, I'm just saying to look at the 38.2% fib for an entry long at the handle of the cup, then you will be risk-free once the upper neckline is retested and thus a much better RR
UnknownUnicorn6061584
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@TayFx, got you. but in my view better to open long only on breakout of horizontal so that we avoid risk of being in a wrong position.