Classic Chart Patterns: Cup & Handle & Descending Triangle

4 авг.

Hello my fellow Cryptocurrency trader, I am wishing you wonderful Sunday and a lovely week ahead.

Today I would like to call your attention to two classic chart patterns, these can be useful for charting purposes and some are highly accurate, like these:

1) The Cup & Handle is a bullish pattern and tends to lead to higher prices.

2) A Descending Triangle is a bearish pattern and tends to lead to lower prices.

As with any other signals, patterns should be consider in conjunction with the rest of the market, it needs to be looked at together with other signals in order to increase their accuracy. Consider any signal in isolation can lead to mistakes.

It is always a nice rule to look for 3-5 signals before reaching a conclusion. You can have your main signal and then look for additional signals that support the main one.

Thanks a lot for reading.

Namaste.