The last time I posted, that a Cup & Handle pattern is forming as part of an Continuation Pattern, which occurs as part of the current uptrend.
As I suspected, my first draft of the Cup & Handle pattern was too narrow, but at least the price level was reached.
Hence, here is my next draft. It seems, that we are currently inside the handle.
I modified the thick...
Cup & Handle pattern can occur in two forms:
Continuation Pattern as part of an uptrend <-- which occurs now.
Reversak Pattern as part of a downtrend
Education: Continuation Pattern
The price is moving higher, declines forming the U-shape and handle, then breaks out of the handle to the upside signaling the continuation of the uptrend.
As with the reversal...
In the 4-hour chart it is likely that a H&S Pattern is forming.
Why do I think that?
It's because in the 4-hour chart we have just touched the 50 SMA, which builds support for the right shoulder on the neckline.