Hello guys!
Currently, the chart is showing the formation of a potential cup and handle pattern. The rounded bottom of the cup has already developed, suggesting that market participants are gradually regaining buying interest after the recent decline.
However, it’s important to note that:
This means the pattern is not yet validated —> it’s only a perspective and assumption at this stage. For the setup to confirm, we would need:
If the breakout occurs with solid volume, the measured target of the pattern could push the price toward the $1.00 level, which also aligns with psychological resistance.
Currently, the chart is showing the formation of a potential cup and handle pattern. The rounded bottom of the cup has already developed, suggesting that market participants are gradually regaining buying interest after the recent decline.
However, it’s important to note that:
- The handle has not yet formed, and
- A breakout confirmation is still missing.
This means the pattern is not yet validated —> it’s only a perspective and assumption at this stage. For the setup to confirm, we would need:
- A consolidation forming the handle, and
- A clean breakout above the neckline area.
If the breakout occurs with solid volume, the measured target of the pattern could push the price toward the $1.00 level, which also aligns with psychological resistance.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
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My recommended Exchange -> YEX: bit.ly/YEX-M
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.