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Cupandhandlepattern

GOLD: Possible cup and handleThe situation with Gold is complicated. It looks like a cup and handle, which does not mean that you throw you money at it going long. This is a very wild market. Check it out. Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
OANDA:XAUUSD
by Captain_Walker
BTCUSD Long Term Chart Patterns WXY Correction TargetsBITSTAMP:BTCUSD In this video I look at chart pattern possibilities, including the text book break down from the recent Inverse H&S Pattern reaching its target to the tick! This target hit the ATH 50% Fib., to the tick practically! Also, I highlight the potential Inverse Cup & Handle Pattern I'm seeing develop. As of this report $BTC has retraced 50% from swing high($12,473) to the local swing low($9,825.xx). Should BTCUSD retrace past this 50% level(higher), then Inverse Cup & Handle pattern should be considered invalid technically. Anything greater than 50% retrace on handle should nullify this pattern, Inverse or not. If Cup and Handle plays out, a target of roughly $7,500 is considered! This puts BTC price close to 61.8% retracement($7,143.99) of March-August Rally. I propose a WXY correction to achieve these targets! WXY Fibonacci Extension Targets for "Y" Of course this is purely hypothetically speaking should the "X" pivot hold as I report this. It's entirely possible that price can briefly pierce higher, thus slightly altering the fib. levels, in which case I'll update as necessary.... 61.8%: $9,546.59 78.6%: $9,101.74 100%: $8,535.08 123.6%: $7,910.17 138.2%: $7,523.57 161.8%: $6,898.66 (Y wave should not exceed the 161.8% extension) I interpret this as that the Y wave can in fact extend up to this level, though, should be considered suspect as it approaches and eventually surpasses the mark! In addition to the potential Cup & Handle, should that develop, there would be/ is nonetheless, an Inverse Head & Shoulder Pattern possibly developing as documented in the video analysis! I'd love to get your feedback! Also, please leave a like and feel free to follow, as I will be offering more chart analysis, focusing predominantly on Bitcoin and Cryptocurrencies. Occasionally DXY and EURUSD too! Check out TheFreeCryptoPress.Com! At TheFreeCryptoPress.Com BITSTAMP:BTCUSD There's a Code for 20% Off Top CBD Products at JustJaneCBD Boutique Online! Look for the code on the site if you wish.
BITSTAMP:BTCUSDLong
by TheFreeCryptoPress
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