USD/JPY C&P
CUP AND HANDLE
The cup and handle pattern is a bullish continuation pattern that signifies a period of consolidation followed by a breakout to the upside. Here's a detailed breakdown:
Cup: This part of the pattern looks like a rounded bottom, similar to the shape of a "U." It represents a period where the price declines and then gradually rises back to the level from which it initially fell.
Handle: After the cup formation, the price typically moves sideways or slightly downward, forming a small consolidation phase that looks like a flag or a pennant. This is the handle of the pattern.
Breakout: The pattern is confirmed when the price breaks out above the resistance level formed by the rim of the cup. This breakout suggests the continuation of the upward trend.
The cup and handle pattern is a bullish continuation pattern that signifies a period of consolidation followed by a breakout to the upside. Here's a detailed breakdown:
Cup: This part of the pattern looks like a rounded bottom, similar to the shape of a "U." It represents a period where the price declines and then gradually rises back to the level from which it initially fell.
Handle: After the cup formation, the price typically moves sideways or slightly downward, forming a small consolidation phase that looks like a flag or a pennant. This is the handle of the pattern.
Breakout: The pattern is confirmed when the price breaks out above the resistance level formed by the rim of the cup. This breakout suggests the continuation of the upward trend.
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