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Trading cup and handle pattern: Here we can see the cup and handle pattern. A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities. The price is trading in the crucial level of the resistance. The price here can take resistance and move down, "below 1581 price will slop down towards 1549". Stop-loss can be consider nearly 10 point from the trade.
NSE:RELIANCE
by kanchanpatel
4
Basic Pattern: explanation of Cup and Handle pattern.How to trade Cup and Handle pattern? The Cup and the handle pattern is basically the retracement from the prior top to about 1/3rd of the vertical height of the cup. Cup and Handle pattern can be seen both as a bullish continuation or reversal pattern. Cup The Cup is usually “U” shaped and may be considered as a rounding bottom with almost equal highs on the both side. Handle The handle is usually the pullback and the pullback is about 1/3rd of the size of prior advance. The smaller the pullback, better is the strength of the formation and higher the possibility of breakout. Volume The breakout from the handle’s resistance should be appear with increased volume therefor conforming the breakout. Target The projected target from the breakout is usually the vertical distance from the high to the bottom of the cup. If you want more education ideas please LIKE, and give SUGGESTIONS in the COMMENT box below.
NSE:NIFTYEducation
by Jay_shree
44