Cup And Handle
Multi Year Cup Pattern Breakout 1. Multi Year Cup Pattern Breakout with good volume accumulation.
2. Good volume accumulation was done starting from the bottom of the cup formation
3. Good consolidation at the resistance level before breakout took place.
4. Ascending right angle triangle pattern breakout on daily chart.
Cup and Handle pattern breakoutA Cup and Handle pattern breakout accompanied by strong volume at the breakout level is a bullish signal. This pattern typically signifies a potential upward trend, with the consolidation (handle) preceding a breakout. Good volume at the breakout level adds confirmation to the pattern, suggesting increased market interest and potential for sustained upward movement. Traders often view such setups as positive indicators for entering long positions.
Weekly Breakout with VolumeA weekly cup pattern breakout with substantial volume signals a significant market development. The breakout is particularly noteworthy as it follows a period of solid consolidation around the resistance area. This suggests potential upward momentum and could be indicative of a favorable trading opportunity.