I am sorry for the mess, however, a nice cup and handle seems to be almost formed, missing just the handle now. this upward bounce will end at 1750 - 1800 to drop down to 1550 ish and then all the way up to 2950, need confirmation on the resistance on upcoming months but a very profitable trade is setting up so far.
Oh boy oh boy!
GBPUSD has been making us some serious profits on the buying side for the last 2 weeks... and yet again, another pattern emerges but this time an even more powerful one that the rest! A CUP AND HANDLE PATTERN! (Bullish!)
We are long again here and might even increase our TP but we are sure to compound this treade!
It looks like a cup. At this point we can't tell if this is a cup-and-handle. We could the handle developing in a few days (or not). As Mr Trump would say, "We'll have to wait and see". It's worth preparing for.
TRI has provided a cup and handle pattern - and is currently in a short term flag. The coppock curve has been decreasing with the flag. Long order is till the open of the flag. Short is opening below 25 MA. Also, the volume is decreasing with the flag at a angle of 35 degrees - showing a potential large breakout.