An illustration of Cup and Handle pattern
First look for an initial uptrend of the stock
Later a small pull back
And later reversal of the pull back ....
Breakout of the highest point of the pull back
At retest , look for reversal candles like doji.... Look for tight price action
Enter the trade just above the high of the candle with stop loss below...
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Psychology of Cup and Handle Pattern:
The psychology of the cup and handle pattern is as follows: The "U" part of the cup is where prices slowly fall, this wears out speculators. This is usually illustrated be a decrease in volume on the left side of the cup. Once prices reach a level...
Cup and Handle Chart Pattern
The cup and handle chart pattern is a bullish continuation pattern that marks a consolidation period followed by a breakout. It can help to predict future price movements.
A cup and handle chart pattern is comprised of three main components:
-A prior trend, as to qualify as a continuation pattern it has to have a prior trend
-The...