Per Bulkoswski's Encyclopedia of Chart Patterns, throwbacks occur 74% of the time.
Maybe waiting for the throwback to bounce off of this trendline (top of the handle formation) to confirm a breakout.
The price target might not be that dependable, but an overall 26% failure rate on this cup and handle (10% if confirmation is made with by waiting for a breakout, after throwback) formation, are good odds for a trade. Consider a trailing stop if your market has sufficient liquidity. Otherwise place your stop below the handle to allow for a return to the bottom of the pennant/handle.
Not a pro. Not financial advice. Just an idea.
Maybe waiting for the throwback to bounce off of this trendline (top of the handle formation) to confirm a breakout.
The price target might not be that dependable, but an overall 26% failure rate on this cup and handle (10% if confirmation is made with by waiting for a breakout, after throwback) formation, are good odds for a trade. Consider a trailing stop if your market has sufficient liquidity. Otherwise place your stop below the handle to allow for a return to the bottom of the pennant/handle.
Not a pro. Not financial advice. Just an idea.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.