Cup and Handle pattern in Forex Market
Here’s an example of “Cup and Handle” pattern in EUR/USD 1 Hour time frame from 8/18/2015 to 8/19/2015.
After cup and handle, price goes up.
If you spot a cup and handle pattern in other pairs, feel free to share it here.
Looks like a W bro. A W pattern that didnt reverse. As I said before easy to pick after the fact not so easy prior
It did not look like a W at all.
Just spotted one on USD/ZAR Daily.
I sort of get it. I don’t see usdzar at all.
but I do see audnzd
but I can’t see any upside down cups,
maybe that takes a bit more practice.
some screenshots with cup and handle
actually drawn in would be helpful.
Not wishing to hijack this thread, not sure if
Cryptocurrency is still current, but it would be good
to get a few more insights
meanwhile-
This one hasn’t happened yet
The most amazint thing about the cup and handle formation, along with the inverted one which you have shown, is the fact that you can get into the cup and handle formation before the right side of the cup is form. Amazing how not one post in such a useful site as this one explains it.
Not sure what you mean makeltRainScalper -
Do you mean you can see the set up forming
before it is complete? Any explanation you
can give will be much appreciatedm - I
personally have never even heard of
this pattern before.
but on EU I was stopped out, the problem
is knowing when the handle is complete
and when the breakout will occur.
I think you need some kind of trendline
break as below
I could go a step further and create a video for you to see. Once the trading session is over, I shall return and upload the video. Basically the video will show you how to enter before the handle and the right side of the cup has formed.
Thanks for the input, unfortunately I couldn’t
hear the audio
but I found another useful video,
main points is that it’s a continuation pattern
and the cup must be a gradual bowl shape,
not V shape. entry is when price leaves
handle and rises beyond the resistance
level of the actual cup, also there
must then be a spike in volume - two
video tutorials confirm this.
two points I noticed - no mention of
inverted pattern, and handle moves
down lower from the top of the cup
This seems to be a very good example
Enter when price breaks resistance and
you have volume spike
This trade would have made 500 pips
and totally non subjective
Its just about traing the eye to recognize the pattern
I was watching some mentor last night demonstrating
Triangle breakouts.
but I could see something he couldn’t see
I’ve subtly paintbrushed it in, just in case
anyone might have missed it
This is truly a powerful setup - Cup and Handle
I mean - triangles not quite so hot.
Banned or not, Many thanks to CRYPTOCURRENCY
for starting this thread
.
Too funny…
Seems like I was right after all. It’s not a perfect Cup and Handle pattern, but the #Recession in the South African economy made this a valid pattern nonetheless due to the bullish momentum around late August. I managed to bag a few PIPS, thankfully.
I think there is latitude, I look for a gentle curve
in the cup as the main thing. handles seem to
vary quite a lot, but I see it as some post cup
consolidation before the big move
in the example the handle hasn’t amounted to much,
but it did move down to the left side top of cup.
then move upm then very tight range
then volume spiked up a bit, so it may be due to
move up (continuation)
Its just an instinct that price won;t move down
