How I Made Money On A CUP AND HANDLE Pattern (QLCBTC)

Dear Friends :)

This is an educational post about the Cup and Handle pattern. I have noticed, that many people tend to misinterpret how it works. This is from an actual trade I made yesterday, which I made a bit of money on.

Normally we want the following for a Cup and Handle Pattern to be valid:


1. We want the cup to be an U-shape and not V-shape. Check!
2. We want the cup not to be too deep and the same with the handle. Check!
3. We want low volume on the handle. NOT check!
4. It is usually a continuation pattern, which means, that we normally want to be in a prior uptrend when it occurs. Check!

So as you can see, that we come from a prior uptrend, its a pretty nice U shape, not deep, the same with the handle, a steep downtrend on the handle. So everything except the big volume (brown circle) made this valid.

So even though everything doesn't match 100 percent you can still enter a trade, if let's say other indicators also shows positive signs.

Determine Targets

A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. In this case I used Elliott Wave theory to determine it though.

Please leave a LIKE for this educational post! Thank you so much, my friend :)

D4 Loves You <3

Komen:

YOU can MAKE money on this trade too, my friends. Take a look at this BIGGER Cup and Handle. Look for confirmation :)

Remember to leave a LIKE, guys :)

Komen:

Also our QLC are doing great! It seems finally to break out from that big Cup And Handle - please leave a LIKE, my friends :)

D4 Loves You <3