LTC - The “Cup With a Handle” Technical Analysis Figure
LTC - The “Cup With a Handle”
Technical Analysis Figure
The classic pattern on the daily timeframe. Have you seen it?
Mastering the pattern is very possible before the "halving" process!
The Truth of the figure consists of numerous important positions, which cannot be ignored.
Conditions are following:
1. The promising uptrend is needed to start the formation of the figure. There is no point in hope for the formation of the price chart without a trend. Even if you'll find a perfect "Cup with a handle" drawing, it will be just a picture, which means nothing.
2. The depth of the forming "cup" should not exceed 2/3 of the previous uptrend height. The optimal choice is 1/3 - 2/3 of this value.
3. The depth of the “handle” should not exceed 0.5 times the depth of the “cup”.
4. The “Cup with the handle” is called to be the most reliable pattern on the daily or weekly time frames. It can also be seen on the hourly charts, but here the probability of its work is extremely lower.
5. The “Cup with handle” pattern should be confirmed by volume indicators. When the price moves in the direction of an uptrend - volumes should grow, and it should fall at its decline. The sharp surge in volume should accompany at the moment of breaking through the price level at the formation of the figure completion.
The conclusion: All of the rules above are true. Please, pay attention to the Stop Loss on the level of 0.014.
Buy - after the breakdown level at a price: 0.017.
Record profits - about 0.030.
Technical Analysis Figure
The classic pattern on the daily timeframe. Have you seen it?
Mastering the pattern is very possible before the "halving" process!
The Truth of the figure consists of numerous important positions, which cannot be ignored.
Conditions are following:
1. The promising uptrend is needed to start the formation of the figure. There is no point in hope for the formation of the price chart without a trend. Even if you'll find a perfect "Cup with a handle" drawing, it will be just a picture, which means nothing.
2. The depth of the forming "cup" should not exceed 2/3 of the previous uptrend height. The optimal choice is 1/3 - 2/3 of this value.
3. The depth of the “handle” should not exceed 0.5 times the depth of the “cup”.
4. The “Cup with the handle” is called to be the most reliable pattern on the daily or weekly time frames. It can also be seen on the hourly charts, but here the probability of its work is extremely lower.
5. The “Cup with handle” pattern should be confirmed by volume indicators. When the price moves in the direction of an uptrend - volumes should grow, and it should fall at its decline. The sharp surge in volume should accompany at the moment of breaking through the price level at the formation of the figure completion.
The conclusion: All of the rules above are true. Please, pay attention to the Stop Loss on the level of 0.014.
Buy - after the breakdown level at a price: 0.017.
Record profits - about 0.030.
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