Drink Up multiple cup/handle patterns forming
already long but wanted to share these series of cup and handle patterns forming on oil... Looking for a potential retrace to 69.70-69.50 max, looking for price action to retest the breakout of the last cup and handle pattern.. leading to a larger breakout... dips will be bought swiftly
Komen:
think of this as a teaching tool... when trading bullish/bearish continuation patterns, always look for the same pattern to continue onto a higher time frame until its invalidated.. In this case, I seen a retrace of the smaller cup/handle on the smaller time frame and notice a series of the cup/handle patterns, which are currently forming inside of a much larger cup/handle pattern, which will lead to a bigger breakout..
Komen:
Komen:
bullish patterns can be overbought on specific time frames to lead to higher breakouts just showing love and education to the trading community. cheers
Komen:
also seen on the 2hr
Komen:
now the picture is getting more clearer . I hope this helps
Komen:
this is the 4th cup and handle pattern
Komen:
we buying all dips
Komen:
followed this live chart
Komen:
Komen:
by any dip Sunday/Monday
Komen:
Komen:
prev. resistances of B leg, should act as future support
Komen:
Lets see if the 2hr can get it done on this cup and handle breakout. I'm aggressively looking for $74 min target on oil, w/ max 75 potentially by Friday's close
Komen:
Komen:
Komen:
4hr cup/handle being created
