STATUS = Confirmed
CURRENT CONFIDENCE = 61%
TARGET (EXIT) PRICE = 50.003969 RUB
BREAKOUT (ENTRY) PRICE = 49.671627 RUB
DISTANCE TO TARGET PRICE = 0.38% (19.0 pips)
EMERGED ON Jul 08, 03:00 PM (UTC)
CONFIRMED ON Jul 08, 03:00 PM (UTC)
WITH CONFIDENCE LEVEL = 72%
Tickeron AI shows that the Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a pair initially declines and then rises to form a “U”like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle.
The declining handle potentially forms due to mounting selling pressure created when the pair tests its high at the right cup lip. After the sellers give up, the pair has the potential to breakout to the upside.
Trade idea
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a pair or a call option at the upward breakout price/entry point. To identify an exit, compute the target price for the Cup-and-Holder pattern by adding the pattern’s height (the difference between the highest high and the bottom of the cup) to the price at the right cup lip. The confirmation move is when the pair moves past the breakout price above the right cup lip.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
CURRENT CONFIDENCE = 61%
TARGET (EXIT) PRICE = 50.003969 RUB
BREAKOUT (ENTRY) PRICE = 49.671627 RUB
DISTANCE TO TARGET PRICE = 0.38% (19.0 pips)
EMERGED ON Jul 08, 03:00 PM (UTC)
CONFIRMED ON Jul 08, 03:00 PM (UTC)
WITH CONFIDENCE LEVEL = 72%
Tickeron AI shows that the Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a pair initially declines and then rises to form a “U”like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle.
The declining handle potentially forms due to mounting selling pressure created when the pair tests its high at the right cup lip. After the sellers give up, the pair has the potential to breakout to the upside.
Trade idea
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a pair or a call option at the upward breakout price/entry point. To identify an exit, compute the target price for the Cup-and-Holder pattern by adding the pattern’s height (the difference between the highest high and the bottom of the cup) to the price at the right cup lip. The confirmation move is when the pair moves past the breakout price above the right cup lip.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.