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Cup And Handle

DOGE to a DOLLARElon Musk's preferred cryptocurrency! Let’s not forget, he is the wealthiest person in the world. This coin is definitely a favourite of his. Reaching new highs is absolutely within the realm of possibility. I have a positive outlook on TSLA stock, with potential targets exceeding $900, which could bring Elon’s net worth close to a trillion dollars on paper. While the timing is uncertain, the potential for growth when investing in him is significant. I also believe that his top cryptocurrency could very well hit a dollar during this cycle. With the recent breakout candle, it seems we've witnessed the completion of a pattern and the breakout of a substantial cup and handle formation. I've included the targets for your reference.
BINANCE:DOGEUSDLong
by BallaJi
DIVISLAB NSE 3Y ATH-RBC BO DTF/WTF/MTF PositionalDIVISLAB Analysis WTF TRADE PLAN EARLY ENTRY -5580 WTF On Retest after BO ADD at 5700,5800 SL -5300 WTF TARGET --01-6400 Hold For a Year or TGT 2 Chart Pattern : STOCK has recently broken its 3Yr ATH of 5580 forming a RBC on the DTF/WTF. Currently in a consolidation range above the Bo. closing the FVG on WTF 2nd Week Sept. INDICATORS EMA : The Price is Currently Trading above 20EMA, and 20EM above 50EMA in DTF. STOCK EMAs are currently aligned in a ascending order 200 to 20 indicating a bullish Trend on DTF/WTF. FIBO E : Given the last Impulse and FIBO /E After the Bounce-back from 38% FIBO Retracement Level, Price is currently trading above the 23.6% FIBO Retracement level of on DTF. Volumes: There is a uptrend in Volume above the 20VMA on the Weekly Charts for2 Weeks Keep in your Priority Watch List Disclaimer: For Education/Reference Purpose Only, Trade at your Own Risk with correct position sizing and SL based on your Risk apetite (Exit when price closes 7to8% below your Entry). Trail Your SL progressively. Learn/Know and Review the Stock trading Technical Terminology. Check Verify the Financial fundamentals of the Stock and Seek Advice from a Certified Financial Advisor prior to Investing. Prefer Entry with 25% quantity, Add in Tranches of 25%-50% as prices moves upwards recommended. MTFA- Multiple Time Frame Analysis DTF -Daily Time Frame WTF-Weekly Time Frame MTF- Monthly Time Frame ATH-All Time High RBC&H-Rounding Bottom Cup/Handle BO- Breakout Close EMA -Exponential Moving Average FIBO R/E -Trend based Fibonacci Retracement/Extension SL Stop Loss TBD- To be Decided CHoCH- Change of Character Bullish/Bearish MSB/BOS -Break Out Structure FVG Fair Value Gap SWING/POSITIONAL Trade
NSE:DIVISLABLong
by billpramod
Technical Analysis of the Cuphead patternThe current setup presents a classic cup-and-handle pattern, visually resembling the shape of a " Cuphead " character. This structure typically indicates a bullish continuation, as it forms after a period of consolidation within a broader uptrend. Cup Formation: Left Side of Cup: The pattern began after a pullback from recent highs, creating the initial drop and rounding bottom, representing the "body" of the cup (or "Cuphead's" round head). Base of Cup: The support level at the bottom is significant, where volume likely decreased, indicating seller exhaustion and setting a strong foundation. Right Side of Cup: Price begins to rise again, completing the rounded shape and signaling a renewed bullish sentiment as buyers regain control. Handle Formation: Handle Decline: The handle forms as a slight pullback from the right side of the cup, usually about one-third of the cup's height. It indicates a final consolidation before a breakout and serves as "Cuphead’s" handle. Handle Length: The handle length should not exceed half the cup's height, as longer handles might signify weakening bullish momentum. Volume Analysis: Look for decreasing volume during the handle formation, indicating weaker selling pressure, with an increase in volume as the breakout starts. Breakout & Price Targeting: Entry and Confirmation: A breakout above the handle’s resistance confirms entry into a long position, with a volume surge as buyers push the price upward. Price Targets: First Take Profit: At 100% profit, calculated based on the initial entry price and set to secure gains once the target is reached. Second Take Profit at Cycle Highs: For further gains, the final target is set at cycle highs, leveraging the bullish momentum and trend continuation. Risk Management: Stop-Loss Placement: A conservative stop-loss can be set slightly below the handle’s low to protect against unexpected reversals while allowing some room for price fluctuations. Trend Monitoring: Keep an eye on volume and candlestick patterns post-breakout to ensure continued bullish momentum, adjusting stops accordingly to lock in profits.
Long
by cheerfulSnail40093
2
Palantir, expecting retracementPalantir uptrend move from June 2024 so far has been incredible. But I think enough is enough! Palantir broke out of its "cup and handle" pattern in mid June and already hit its target at about 50$ per share. The stock price is currently standing at 58$ per share, which is surpassing its cup and handle target and even 4.76 Fibbonaci extension level. I believe we will see a retracement to around 50$ per share soon. We also see that the when RSI indicator is at these elevated levels, there is usually a retracement or sideways price action.
P
by Mo_reza_kaz