Hypothetical Cup and Handle Pattern Breakdown
Let's assume the price formed a rounded bottom, with the lowest point at $0.10.
After reaching a peak of $0.15, the price pulls back to around $0.12, forming the handle.
The breakout level is at $0.15, where the price previously peaked.
Trade Setup
-Enter the trade at the breakout level of $0.15
-Place a stop loss just below the handle's low, around $0.11. This helps to manage risk in case the pattern fails.
- The target price would be $0.20 You may consider taking partial profits at $0.18
After reaching a peak of $0.15, the price pulls back to around $0.12, forming the handle.
The breakout level is at $0.15, where the price previously peaked.
Trade Setup
-Enter the trade at the breakout level of $0.15
-Place a stop loss just below the handle's low, around $0.11. This helps to manage risk in case the pattern fails.
- The target price would be $0.20 You may consider taking partial profits at $0.18
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