AUDCAD

Cup and Handle is a bullish continuation chart pattern that marks a consolidation period followed by a breakout.

Chart patterns form when the price of an asset moves in a way that resembles a common shape, like a rectangle, flag, pennant, head and shoulders, or, like in this example, a cup and handle.

There are two parts to this chart pattern:

The cup
The handle
The cup forms after a downtrend is followed by an uptrend and looks like a bowl or rounding bottom.

As the cup is completed, price trades sideways, and a trading range is established on the right-hand side and the handle is formed.

A breakout from the handle’s trading range signals a continuation of the previous uptrend.

Trade Setup

AUDCAD buy now @0.91895

Stop loss @0.91539

TP@0.93029

Use good risk management strategy


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