Just to show you an example of how easy it is to fail with a "Cup & Handle" analysis.
I saw a TA a couple days ago that was made with almost the same (too less) data.
We can see the shape of the cup being more like a "V" then a "U". We're looking for a U-shape to form the cup. We then need the cup to be formed over a longer period of time. I want it to be at least 1 month and NOT 3 days. The handle we (not) see is also a false one. We need a handle that shows some decent retracement before it breaks the trendline.
Made this example to publish it as my first "public idea" and see how things work on this platform.
Greets and happy trading...
I saw a TA a couple days ago that was made with almost the same (too less) data.
We can see the shape of the cup being more like a "V" then a "U". We're looking for a U-shape to form the cup. We then need the cup to be formed over a longer period of time. I want it to be at least 1 month and NOT 3 days. The handle we (not) see is also a false one. We need a handle that shows some decent retracement before it breaks the trendline.
Made this example to publish it as my first "public idea" and see how things work on this platform.
Greets and happy trading...