Potential Cup and handle and support levels
After last nights drop we bounced off .5 retracement, with quite big volumn seems to be some good support there
Potential for cup and handle here, which i've noticed CHSB seems to love
If Trendline from 17th April is broken, i suspect we'll head down to re-test the support at 1.20 which is the top of what looks like a large accumulation from march until mid april
If the local resistance line breaks up, i expect we'll probably squeeze upwards until we confirm a breakout. Not convinced bulls are done yet, but wouldnt trade until we confirm direction of travel with a breakout and then checking for a re-test on a lower timeframe.
First time trying this....go gentle
Potential for cup and handle here, which i've noticed CHSB seems to love
If Trendline from 17th April is broken, i suspect we'll head down to re-test the support at 1.20 which is the top of what looks like a large accumulation from march until mid april
If the local resistance line breaks up, i expect we'll probably squeeze upwards until we confirm a breakout. Not convinced bulls are done yet, but wouldnt trade until we confirm direction of travel with a breakout and then checking for a re-test on a lower timeframe.
First time trying this....go gentle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.