A Cup and Handle can be used as an entry pattern for the continuation of an established bullish trend. It´s one of the easiest patterns to identify. The cup has a soft U-shape, retraces the prior move for about ⅓ and looks like a bowl. After forming the cup, price pulls back to about ⅓ of the cups advance, forming the handle. The handle is a relatively short period of consolidation. The full pattern is complete when price breaks out of this consolidation in the direction of the cups advance.
The price will likely continue in that direction though conservative traders may look for additional confirmation. The target can be estimated using the technique of measuring the distance from the right peak of the cup to the bottom of the cup and extending it in the direction of the breakout. A common stop level is just outside the handle on the opposite side of the breakout. The Inverted Cup and Handle is the bearish version that can form after a downtrend. TradingView has a smart drawing tool that allows users to visually identify this pattern on a chart.
jindal steel charts shows inverted head and shoulder breakout, cup with handle pattern breakout, long term trendline breakout.
jindal steel postional buy close above 191 target 250.
add more on dips sl 160 .time duration -3 months
Cup & Handle Break Out.
EMA May Act As Support.
Depth Of Cup 350 Points.
Fibonacci Support.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Making of Cup & Handle.
Break Out Retest.
EMA Support.
Trial SL As Per Comfort.
Other Details Mentioned In Chart.
Can Be The Stock For April Series.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registerred Financial Advisor.
TCS: 09 Apr 2019: Multiple chart formations:
Cup and Saucer Formation & Ascending Triangle Pattern Formation taking shape for TCS at current price level of 2,085. Buy volume increasing from last 3 day trading sessions. TCS will present result on 12 April 2019. If the result is good then breakout can be seen for an upside with target at 2,300 price level (10.30%...
NSE:ITC has broken out of zone forming cup and handle kind of pattern. ADX also is giving signals for a start of new trend. It has a great potential to move upside but its a slow moving stock so option trading might not be a good option. Cmp is around 300 and is expected to move above 320/345/353 if these levels are crossed it will trade above 52 week highs.
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