Cup 'n' Handle/ I'm sure @DrSeuss will bring a textbook definition of this pattern/ There are 'strict' Rules for identifying it but here's a chart for seeing if it's forming Now
View attachment 54253
Structure
Where's Lip ?-- Breakout point 36 cents
Where's Base?- 14 cents
Where is Handle Retrace 1/3rd? - 29 cents
What's target -14 cents on 36 = 50cents
so IF this is a valid pattern identification
a retrace to 29 cents still 'fits'
as long as it returns to break 36 again
Retraces lower than 29?
The handle's broken. The Pattern has failed which statistically happens some Dr Seuss? is it 30% of the time?
The theory goes to watch the handle formation confirm and BUY the 36 subsequent Break Out.
