Up quite a bit today, possible pull back usually follows gains such as today..monthly and weekly candles appear with long lot wicks and no bottom wick noted..candles have both a bottom and a top wick at some point in their transformation..so if there is no bottom wick, look out for a bottom wick. If a candle has only a bottom wick and no top (Hammer, but a hanging man at the top so be sure) a top wick will come along and form.
Cup with no apparent handle..yet..
At this point this looks like an ascending scallop pattern. After break out, an ascending scallop pattern resembles the letter J. Beforehand it looks like a cup with no handle. Be warned this pattern usually comes back down to form a handle which often appears as another scallop. You can usually find a level of support but no true Horizontal consolidation zone (HRZ) that could be called a true handle. Two peaks with a rounded valley in between, like a cup. The right peak is usually a bit higher and definitely higher after breakout happens. Like the cup and handle pattern, targets are based on depth.
Most folks would wait until it pulls back to form the handle or another scallop on the pull back to buy but we are all different.
Not a recommendation
Cup with no apparent handle..yet..
At this point this looks like an ascending scallop pattern. After break out, an ascending scallop pattern resembles the letter J. Beforehand it looks like a cup with no handle. Be warned this pattern usually comes back down to form a handle which often appears as another scallop. You can usually find a level of support but no true Horizontal consolidation zone (HRZ) that could be called a true handle. Two peaks with a rounded valley in between, like a cup. The right peak is usually a bit higher and definitely higher after breakout happens. Like the cup and handle pattern, targets are based on depth.
Most folks would wait until it pulls back to form the handle or another scallop on the pull back to buy but we are all different.
Not a recommendation