Cup & Handle - EU
Updated
Here I have EUR/USD on the 4Hr Chart!
Price has outlined what looks to be a Possible Cup & Handle Pattern with the Low @ 1.07238 being the bottom of the "Cup" followed by an IMMEDIATE reversal to the High @ 1.10089!
Now price is creating what should be the "Handle" where then price should go BULLISH breaking the Top of the Cup CONFIRMING the Pattern!
*If Price Breaks Down below my ENTRY ZONE, Pattern Set-up is INVALIDATED!
Fundamentally this week:
EUR - Core CPI (Tue)
USD - Building Permits (Tue) Consumer Confidence/Home Sales (Wed) Final GDP/Unemployment (Thur) Core PCE/ Durable Goods/ UoM Consumer Sentiment/ New Home Sales (Fri)
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-BUY-
{ SL } 1.08330
{ ENTRY } 1.09002 - 1.08834
{ TP } TBD
Price has outlined what looks to be a Possible Cup & Handle Pattern with the Low @ 1.07238 being the bottom of the "Cup" followed by an IMMEDIATE reversal to the High @ 1.10089!
Now price is creating what should be the "Handle" where then price should go BULLISH breaking the Top of the Cup CONFIRMING the Pattern!
*If Price Breaks Down below my ENTRY ZONE, Pattern Set-up is INVALIDATED!
Fundamentally this week:
EUR - Core CPI (Tue)
USD - Building Permits (Tue) Consumer Confidence/Home Sales (Wed) Final GDP/Unemployment (Thur) Core PCE/ Durable Goods/ UoM Consumer Sentiment/ New Home Sales (Fri)
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-BUY-
{ SL } 1.08330
{ ENTRY } 1.09002 - 1.08834
{ TP } TBD
Comment
Price has now OFFICIALLY completed the Cup & Handle! Now we watch for the Bullish Break and potential Retest for any further Entry Possibilities!
Major news left for USD includes PCE and Durable Goods
Stay Tuned!
Comment
We were given a BEAUTIFUL Bullish break of Confirmation of Pattern!! Now price is starting to halt which leads me to believe we will be seeing price retrace back to the Point of Break at Confirmation in anticipation of the heavy upcoming news events for USD.
Will it HOLD or will news come in POSITIVE for USD make it BREAK?!
Trade active
Price came down and Tested the Confirmation of Pattern!Buy Entry @ 1.1015
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
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