On the 4-hour BNBUSDT chart we can see two cup and handle formations. They look pretty clear to me.
The current cup has a bottom of around $10.00 and a rim at $13.85 for a height of $3.85.
If it follows the classic pattern a buy should be placed at the breakout point above the handle tend lines around $13.00 or so.
Stop loss should be set below the handle bottom trend about $11.85 or so. Always have a stop!
The target can be the height of the cup plus the breakout point. So target around $16.85. This would give a 22.8% gain. Nice!
Please LIKE this if you think this is worthwhile. If you don't like it please leave a comment and help me understand where I'm wrong.
theredbaronZ
Not Trading Advice blah blah blah. Do your own research please!
Yorum
⋅
Still waiting for a breakout. I did not buy because the price never broke above the handle trend line. Still looks like a good pattern to me but time will tell...
Waiting waiting waiting...
Yorum
⋅
Still watching this formation. The trend lines are drooping a little but that is still within the classic pattern.
Of course all this TA stuff is useless if the Chinese gov. decides to jack the price one way or the other. They control over half the coin supply for this coin. Just sayin'
İşlem aktif
⋅
My buy order is still in for this. I'm leaving it at $12.75 for the breakout.
İşlem aktif
⋅
I'm betting this will get pumped in the next couple of days when the BTC freakout has reversed or at least settled down. We'll see...
İşlem aktif
⋅
Torpedoes running straight and true captain!
İşlem aktif
⋅
Rally fizzled but stop was not triggers so I'm holding on...
İşlem aktif
⋅
My original stop loss was too tight. I didn't actually close the trade at the original stop. I still think this trade has potential so I'm holding on for now.
I agree, they sure do look like cup and handles. Nicely spotted.
theredbaronZ
⋅
@Ryder100, If you look you can see two earlier formations that are similar one starting around 3 Feb. and one around 20 Feb. Of course early Feb was dark days indeed but the cup formation followed the pattern. The 20 Feb formation broke down from the handle so a buy would not have been triggered.