Spotting the Cup: A Technical Dive into Modon Holdings PSCThis chart illustrates a potentially valid Cup with Handle pattern on Modon Holdings PSC's daily chart. The cup formation appears well-rounded, with a reasonable depth that aligns with standard pattern criteria. The handle is correctly positioned following the cup and slopes slightly downward, which is acceptable and typical.
However, for a more reliable confirmation, it's important to assess two key factors:
1. Volume Dynamics: Ideally, volume should contract during the handle formation and expand significantly on the breakout. This confirmation is not visible from the chart provided and should be verified.
2. Pattern Duration: The pattern seems to have developed over a relatively short period. The Cup with Handle is generally more reliable when it forms over several weeks to a few months on a daily chart.
Overall, the drawing is structurally accurate, but traders should confirm volume behavior and ensure sufficient pattern maturity before acting on this setup. Constructive feedback is welcomed if others spot additional nuances.
MODON trade ideas
Wait for lower priceModon and Multiply most of the time go side by side, as Multiply has already started its correction i think Modon will also follow. I am not interested at current levels as it got rejected at 3.33 that i have identified as resistance zone. I am waiting for the price to hit somewhere between 3.12-3.18 zone and wait for a bullish signal so that i can plan my entry. As of now lets just wait and watch.
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