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Handle

NGAS - potential cup & handle play on the daily chartI suggest the chart is self-explanatory. If the pattern turns out to be a cup indeed, there should be a pull back to form some shape of a handle (often times as a falling flag/triangle), then the price would sharply break out the resistance of the recent high at the cup’s edge level and would head Northbound (or more precisely – North-East). Obviously, the exact moves are my biggest speculation to-date, but they are all based on the prior action and the resulting logic of the chart. However, regardless of the exact moves, if, again, it’s truly a cup, the eventual target is measured and is typically equal the depth of the cup. Also, notice that should the price reach its target, another cup might shape out with the new target above NGAS’ previous all-time high. The last but not the least, please note that this is not a trading advice but an exclusively theoretical exercise with a prohibitive level of uncertainty. Should you decide to take any positions along these lines, it is imperative (solely for your own good) that your trades are based on your OWN analysis.
FX:NGAS
by VirtualFax
3
Teacup Saucer Bottom Near Term BuyThe saucer bottom has been, in my experience, a very reliable bullish chart pattern. We want to continue to use appropriate trend following entry strategies of buying on strength. Therefore, you will want to go long on a breakout of recent highs. You'll want to leave plenty of room on your stop loss given the fast and volatile nature of this cross product. Look to trail stops once in. For a longer term trade and a spot of tea, you may also want to check out the daily chart that shows a well formed teacup with handle.
Long
by chris333
2
Cup & Handle Bullish Medium TermWe can see the reliable bullish chart pattern of the Teacup Saucer Bottom (aka Cup & Handle) provides a strong bias to the upside. The similar hammer candles indicate continuation to the upside, post retracement. A break above the saucer high with a confirming close above this price level for a few days, would demonstrate the probability of a move to test the 143.23 July 15 high (the beginning of the pre-saucer consolidation pattern). Stay tuned. Always feel free to leave me a comment. I love critique, as it challenges my bias and pre-conceptions; go ahead, make me uncomfortable. Then we can all benefit!:)
Long
by chris333
1
Trading Plan Oct-NovBUY: new high, break of 248 TP: along the targets up to 281 SELL: break of black trend line & failure to break 248 TP: around 232.5 - 235 / Build a new long position from there. HOLD: if you are long, the break of the C&H neckline indicated that price will try to reach the C&H target 256-258 A break of 248 would indicate that price will be trying to reach the double bottom target 268 - 273 OTE SELL ZONE: Look for reversal signals there and establish a short position The white & red forecast drawings are just for the purpose of orientation.
BITFINEX:BTCUSD
by MagnusTradingGroup
1
Reverse cup and handleI have successfully traded this pattern in the past so am a bit of a fan. Normal to a long position but all works the same to the short side. I like this pattern as a trend continuation pattern. I only ever trade it on the daily also. I will post the weekly chart as well so you can see that it's formed after a long down trend has been in place. This current set up meets a number of things I look for in the pattern. -I like to see a strong pull back and large choppy moves in the base of the cup. normally I will see a double bottom/top or head and shoulder but in this case a triple top. - The top of the handle to be noticeably below the high or low of the start of the cup depending on traded direction. -The handle to form and stay in this case below the 200ma (long set up would obviously be above 200ma) -The most important is for price action to tighten up and slop away. Ill update if it breaks out of the handle.
Short
by tst
7
Inverted Cup and Handle Top or Descending Broadening Wedge?As many of you know United States and Japan's diplomats have been working on the Trans-Pacific Trade Agreement TPP. Trans-Pacific Partnership (TPP) is an ambitious plan for a free trade agreement among 12 countries which, if realized, could cover 40 percent of global GDP. It is a key plank in President Obama's foreign policy, and an effort to anchor the US firmly to a region that is increasingly feeling the pull of Beijing's mighty economy. But huge sticking points remain, with the US and Japan -- the world's first and third largest economies -- fighting to protect important domestic industries. Washington and many of the other parties to the talks -- which also involve Chile, Mexico, Canada and several Asian countries -- say Japan's unwillingness to open its lucrative agricultural market is a deal-breaker. Below is a news brief on the situation. "US Trade Representative Michael Forman and his Japanese counterpart Akira Amari said 18 hours of discussions had done little to reduce the "distance" between them, especially on farm and auto products. We agreed today that our negotiators will continue until the end of the week (with) the discussion on agriculture and autos" Gridlock between Japan and United States has shaped the charts in a unique way. Chart Pattern Near Term Descending (Falling) Broadening Wedge For the past few weeks, as many of you know from Trading View’s message board, I have posted the descending (aka falling) broadening wedge pattern. The pattern has worked perfectly and looks to be ending soon. As you can see on our chart, the falling wedge has kept closer to inside descending support line in recent weeks. This could mean that we will react in opposite manner, and the falling pattern would elongate to our upper resistance (thick black descending line) shaping a handle, or the pattern is breaking down and will speed up to the downside. I posted likely key support area's using a Fibonacci extension from important tops and bottoms from the descending wedge pattern. Big Picture Cup and Handle Top Pattern (6 month Cup) Neckline 84.00 (horizontal) to 83.00 (following descending support; 0 to -2.5 degrees) Possible Secondary Deeper Neckline at 83.00 to 82.00 (following descending support; -2.5 to -6 degrees) Measured Target(s) 79.13 , 77.33 and 76.06 If we look at our related event between Japan and U.S. that is triggering the pattern we have shaped, and with an optimistic outcome next week, we should see our bottom somewhere near those necklines I posted above. I would also expect a possible breakout above the handle(s) I charted, rendering the cup and handle a busted pattern and the broadening wedge as a breakout. However, without a deal between the U.S. and Japan next week. I would think the market could quickly turn negative and we could fulfill the measured targets I mentioned above, measured target(s) 79.13 , 77.33 and 76.06
NASDAQ:QQQLong
by QuantitativeExhaustion
10