AUD/USD (3H)...AUD/USD (3H) chart, here’s a breakdown of what I see and how the target can be projected:
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🧠 Pattern Analysis
My identified a Cup and Handle pattern, which is a bullish continuation setup.
Cup low: around 0.6450
Cup rim (resistance / breakout level): around 0.6580 – 0.6590
Current price: ~0.6585 (right around the breakout level)
Handle: short pullback, touching near Ichimoku cloud support — healthy structure before potential breakout.
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🎯 Target Projection (Cup & Handle Rule)
Cup and Handle target = Breakout level + Depth of the cup
Depth of cup:
0.6585 (rim) – 0.6450 (bottom) = 0.0135
Target = 0.6585 + 0.0135 = 0.6720
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✅ Target Summary
Entry (breakout confirmation): above 0.6590
Target: 0.6720
Stop-loss: below 0.6535 – 0.6540 (below handle & cloud support)
Risk/Reward ratio: ~1:2.5
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💡 Bonus Confirmation
Price is above the Ichimoku Cloud (bullish bias).
Handle retracement is shallow and respecting Tenkan/Kijun lines — typical of strong continuation setups.
Volume on breakout (watch for increase) would add confirmation.
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Final Target: 0.6720 (main take-profit zone)
