Get started

Cup And Handle

GOLD 11/8/2022GOLD GOLD has provided a great chart to review the different stages of the market. The past 10 years, GOLD has showed us all 4 stages of the market: Distribution, Accumulation, Downtrend, & Uptrend. Daily Chart Analysis Gold went crazy December ‘79. A parabolic move took price from about 400.00 to about 870.00 That was the last move of an uptrend that lasted about 9 years starting ‘71. To start 1980, Gold crumbled and crashed. By June of ’82, the price of gold had tumbled down to 300 from 870. The crash reached bottom in 1999 but it wasn’t until 2003 that it entered its next uptrend. The GOLD crash lasted about 22 years. 1) The Uptrend GOLD entered uptrend in’03 at 325.00. The uptrend continued and in Jan.’08, price finally reached the highs of ‘79. That’s 29 years of holding the bag to finally get back to even! Price continued to make all-time highs reaching up to 1990.00 by 2011. 2) The Distribution After all-time highs of 1990, price started to move sideways between Resistance at 1790 and Support at 1543 By April ’13, price broke down from sideways market. The sideways market was then deemed a “Distribution stage”. Price to enter downtrend. 3) The Downtrend. In 2013, price fell below 200ema and entered downtrend. Price lost support of 200ema and closed below it for the 1st time since ‘02. That’s a 1st in 12 years. Price continued to make a series of lower highs and lower lows creating a downtrend channel. In April 2016, price finally broke out of downtrend channel. This signals the possible end of the downtrend that’s lasted about 3 years. 4) The Accumulation Stage After breaking out from downtrend channel, price started to move sideways finding resistance at 1370.00 Price also started to make higher lows into the resistance of 1370.00. The market was no longer trending and had formed an Ascending Triangle. On June ’19, price broke out of Ascending triangle and thru resistance at 1370.00. It also bounced back above the 200ema. The breakout then confirmed the sideways market to be an Accumulation Stage. Gold will look to enter uptrend once again! 5) Resuming the Uptrend. It took about 6 years but GOLD resumed its uptrend in 2019. Price stayed above 200ema and the uptrend took price to all-time highs of 2070 in Aug.’20 After finding resistance at 2000.00, price has been moving sideways between 2000.00 and 1680.00. 6) ???? – Possible Accumulation stage Price has now been moving sideways between 2000.00 and 1680.00. It recently broke down from support at 1680 and 200ema The breakdown was short lived as price bounced back above both. We now have a price rejection of lower prices and false breakdown. We also have a bounce back above from Oversold Stochastic reading. There is a lot to like here. GOLD has been moving sideways since continuing its Uptrend and reaching All-time highs. The all-time highs show the gold market is “hot” and the buyers the higher prices up. We’re also seeing the buyers quickly buy up the breakdown of support. The buyers are buying up the lower prices and establishing higher support levels. We’re in an uptrend and pulled back to a support level. The oversold stochastic reading signals a possible entry Uptrend + pullback to support + Oversold Stochastic = Long entry. Price will look to make a swing move to 2000 then I expect price to make All-time highs and continue uptrend north of 2800 Entry: 1710 Stop loss: 1600, -6.43% Target #1: 1990, +16.37%, 2.55 RR ratio Target #2: 2850, +66.67%, 10.36 RR ratio
TVC:GOLDLong
by rudcharts
3
Deep Cup and Handle Formation: Price Targets and StrategyIn the current market environment, a fascinating "cup and handle" pattern has emerged on the daily chart, presenting a potentially lucrative trading opportunity. This analysis aims to delineate the characteristics of the pattern, its implications, and a strategic approach for capitalizing on it. **Pattern Depth and Formation**: The "cup" portion of the pattern experienced a substantial drop of 76.14%, indicating high volatility and a deep formation. This was followed by a handle that retraced 23.30% from the top of the cup. The handle has been forming over 59 days, suggesting a significant consolidation period that typically precedes a strong breakout. **Volume Analysis**: Volume dynamics during the handle formation have been stable, maintaining an average level compared to the previous 30 periods, with occasional peaks. This indicates sustained interest and engagement from the market participants while waiting for a clearer direction. **Price Range**: The handle has been oscillating between 78,847 and 56,610. This range is crucial as staying within this boundary suggests a robust formation. A break above this range, especially if accompanied by increased volume, could signal the start of an upward trajectory. **Price Target Calculation**: Based on the depth of the cup (22,237 points from 78,847 to 56,610), the price target post-breakout can be projected at approximately 101,084. This target is derived by adding the depth of the cup to the breakout level at the top of the cup. **Conclusion and Trading Strategy**: Considering the current formation and market conditions, traders should watch for a breakout above the 78,847 level with high volume as a confirmation of the pattern's validity. Setting a price target around 101,084 offers a substantial upside potential. However, it's critical to place stop-loss orders below the lower boundary of the handle at 56,610 to mitigate risks associated with unexpected market turns. This "cup and handle" pattern highlights not only the potential for a profitable trade but also underscores the importance of patience and confirmation in trading strategies. As always, keep an eye on broader market trends and adjust your strategies accordingly.
by vieiraes
SOL can ascend further! BINANCE:SOLUSDT SOLUSDT is in the ascending phase by the cup and handle. SOL is in a large C&H if it follows these pattern, the price will have a nice rally. ⭐The pattern increases the price by the amount of the measured price movement (AB=CD). Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
by CobraVanguard
2
Bitcoin Cup and Handle heading to bullrun?Will this bullrun be formed out of a cup with handle breakout? If the price confirms the resistance at the current region, it could very well be the case. Cup and Handle identification analysis: • Price rises into the start of the cup - ✔ • The cup should be U-shaped, not V-shaped - ✔ • Cup rims should be near the same price level but be flexible - ✔ • A rounded turn that looks like a cup with a handle on the right - loading... • The cup must have a handle on the right - loading... That would lead to Bitcoin's new ATH @ ~$280k by the end of 2025.
BITSTAMP:BTCUSDLong
by B4Baggio
2
Gold going for the 5th wave of the 3rd wave (higher degree)So, I've previously mentioned that Gold has a major cup-and-handle formation (linked to this idea) and that it is a very bullish formation. Price has since broken up and I spent some time to update on the Elliott Wave counts in this analysis. Here's what I expect Gold price to be for the near term: 1. It will move up for a 5th wave of a higher degree 3rd wave. 2. Then it will experience a 4th wave of a higher degree which should be rangy (since wave 2 is a zig-zag). 3. Then another 5th wave up. Overall, it is still a very bullish call.
TVC:GOLDLong
by yuchaosng