A Pattern worth keeping an eye on...price action is currently heading back towards the neckline.
There are lots of support/resistance points on the cup as you can see. Let's see how it plays out.
NCS NCI is a near $2B business, which just merged with Ply Gem Corp. also $2B business forming larger construction and engineered products business * Forming handle in likely break from Fibretrace 0.786 at $15.75 to $17.00 indicating break-out * Drop to 14.10 not likely as relative strength and sales growth in construction and housing products after Hurricane...
Today is the day of inverted cup & handles, it's visible on many coin's charts. For BTC target can be 6560.
Target can be 7000 if it not go lower. It broke down exactly at the time of making it.
In dark turquoise here I ahve drawn an inverted cup and handle pattern...the price action has sent a wick to the neckline...should we not climb back into the symmetrical triangle by the time this candle closes probability is very high that we could trigger this cup and handle pattern...if so the target drop would be down to the bottom trendline of the weekly...
CMP 616 Long suggested around 610-620. Stop 575 Logic: Weekly chart Cup pattern breakout with good volumes. Fundamentals - Exponential growth in EPS and sales observed in the last 4 quarters / D-E 0.3 / Promoter holding 51% / Mkt cap 1970 cr and FF 980 cr.
NULS can do a 30% up run in next days if we following a cup&candle pattern
Possible Cup&Handle forming with profit levels in red. On daily candles Volume profile shows healthy levels up to the last take-profit. Entry levels on resistance breackthrough
Gang, I am going to keep experimenting with this pattern. I think we are going to see a correction around 6,450, but that's okay we will still hit our target on the chart. Buy the handle. Set a tight stop loss. 5-10% loss with close to 50% gains. Let's get it gang. ***A 100% drop playing out throughout the rest of the year is still very possible. If you ask me...
Yet another cup and handle. Look at coinmarketcap and count how many you see. What do you think will happen? Haha I am excited to see! Cup and handle on smaller time frames have worked for me in the past. Tight stop loss, and high reward, so why not!? :D
This was my last cup and handle call. The way the handle stretches out horizontally is interesting. The cup and handle broke through resistance and made close to 25% gain from the bottom of handle, but TRX is now using the old resistance line it broke through as support. Let's see if it holds or if it breaks through support.
Im an ameture trader to a 't' although i belive that what im looking at could be an inverted cup and handle bullish on the release. Any ideas comments concerns appreciated.
After seeing a nice fakeout on the daily of the inverted cup and handle pattern we are now seeing the 4hr chart form both a higher high and at least for now what appears like it will be a follow up higher low...if so the odds are favorable of following that up with another higher high and in doing so very likely we could trigger this currently developing inverted...
As I said in the last 2 ideas wait for confirmation from the volume in this situation. I also said that with both the 4hr and 1 day charts rsi levels right near the oversold zone it would be very difficult for price action to sustain triggering an inverted cup and handle. Right now we are seeing lots of volume. and a big green candle spike...Odds are very good...
This cup and handle is a little more crude than btc's and is slanted downwad but could still be just as valid. Stay focused be careful and pay close attention. Try to avoid all fakeouts don't act until you see some sort of volume confirmation. Notes for myself of course and not financial advice. Best of luck in whatever strategy you choose to employ.
Hard to believe that when the 1 day rsi is this close to the oversold zone that this inverted cup and handle would have any room to plummet here. However if it does indeed trigger we could be lookin at a dip all the way down to 3.6-3.7k . There's a chance if it does trigger it would be a flash crash of sorts. Which could be what could finally catapult the price...
Shown hear is the potential cup of the inverted cup and handle play very close attention to price action and whether or not it dips below this neckline. To trigger an inverted cup and handle here could dip us to 3.6k-4k so I'm hoping this doesn't happen but after the last inverted cup and handle we broke down from its wise to at least be prepares and keep an eye...