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CUP

SHAK - Cup with or without handle?SHAK is looking to break the rim of a Cup pattern @ 63.80. A "cup & handle" pattern that formed after a prior uptrend is a trend "continuation" pattern. However we are seeing only a cup without a handlde at this point. 2 things can happen: this break up can fail and it began to form a "handle" pattern instead. In any case I would long the break of the rim (and if this fail and handle forms, long the breakup again when that happens). A successful breakup should bring us to the target of at least 78.50-81 Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
NYSE:SHAKLong
by Juliac
1
The Cup and Handle Chart PatternCup 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 cup, "U" shaped resembling a bowl or rounding bottom with almost equal heights on the either side -The handle, as the cup formation is completed, a trading range develops on the right-hand side forming the handle, usually 1/3rd of the size of the prior advance In this chart pattern, there is a prior trend followed by a cup forming with almost of the equal heights on either side with a low in observed nearly in the middle. After the low, the rice consolidates to reach near the high of the start of the cup, followed by a pullback forming a handle, similar in shape to a flag or pennant. Once the handle reaches back to the same level of the cup highs, a breakout is expected, confirming with spikes in the volume observed. Traders can use the cup and handle to buy when the breakout is observed i.e. at the candle when price breaks the highs formed by the cup. For confirmation, traders can use the sudden increase in volume as the cup and handle completes and the breakout is observed. Traders can put stop loss at the low of the handle in order to minimize the losses if the pattern fails, There are few limitations as well to the Cup and Handle Pattern: -Can be difficult to be observed for novice traders -Often might require assistance from other technical indicators -The cup and handle might take extensive periods to play out and complete the formation ---------------------------------------------------------------------------------------- If you find the post useful, please like and share our ideas with the community! - Mudrex
COINBASE:ETHUSDEducation
by Mudrex
7
KAVA.BTC (Y20.P3.E4).Cup and HandleHi All, *** This is a component of the previous KAVA.BTC post > Link below *** Hence supporting my thesis that this coin is in its early phases of doing a Parabolic run. The chart tells its all. Note, it did well with the btc dominance bounce and likely to keep doing so. How to trade this? 2 options to consider: a) You can wait for the 6 hrly candle to close before jumping in b) Look for the retest of the support line Its possible both will be covered in the 6 or 8 hrly window. Please give me a tick or like for this post. Enjoy! Regards, S.Sari PREVIOUS POST
Long
by ssari
2
RSRBTC1H. My Cup did not quite 'runneth' over..Price broke trend line 'A' decisively and made gains. I sold too early at 13040. Had I been paying greater attention I would not of missed the formation of a lovely cup and could of raised my price expectations accordingly. Still, about 5% for me and the prospect of jumping back in - if we're lucky we just might form a handle for the cup yet... Trend line 'B' the dashed line gave me my original exit target being a parallel projection of its counterpart dashed line ( put it originally in the wrong place!). Now possibly this may be the formation of a new channel.
RLong
by iDoji