Dear Friends :)
This is an educational post about the Cup and Handle pattern. I have noticed, that many people tend to misinterpret how it works. This is from an actual trade I made yesterday, which I made a bit of money on.
Normally we want the following for a Cup and Handle Pattern to be valid:
1. We want the cup to be an U-shape and not V-shape....
A new coin is dropped into the market what to do? how to trade? This is a strategy that I use and it works exceptionally well, new coins are a risk in the market as you can't look at history to perform a thorough technical analysis .
To trade you need to find the support and resistance level of your coin first; this is found off the first daily candle to close...