GOLD, XAUUSD LONG TERM
Directional Bias: Bullish
Pattern Type: Continuation
Pattern Description: This pattern occurs within the context of a longer
uptrend and is characterized by the price forming a u-shaped cup with a short
handle on the right. The duration of the cup should last at least 7 weeks if
using a daily chart.
Volume Description: Volume will typically follow the shape of the cup, with
high volume as the left lip forms, falling volume as the bottom of the cup
forms and rising volume toward the right lip and on the breakout.
Breakout Confirmation: A close above the upper trend-line drawn across the
handle with above average volume.
Measuring Technique: The price target is obtained by measuring the right lip
to the bottom of the cup and then added to the price level of the right lip.
Statistical Notes: The pattern has a low failure rate but doesn’t move as
strongly as other patterns. Patterns with shorter handles perform better than
longer handles, and deeper cups with the left lip slightly higher than the right
lip perform better.
Pattern Type: Continuation
Pattern Description: This pattern occurs within the context of a longer
uptrend and is characterized by the price forming a u-shaped cup with a short
handle on the right. The duration of the cup should last at least 7 weeks if
using a daily chart.
Volume Description: Volume will typically follow the shape of the cup, with
high volume as the left lip forms, falling volume as the bottom of the cup
forms and rising volume toward the right lip and on the breakout.
Breakout Confirmation: A close above the upper trend-line drawn across the
handle with above average volume.
Measuring Technique: The price target is obtained by measuring the right lip
to the bottom of the cup and then added to the price level of the right lip.
Statistical Notes: The pattern has a low failure rate but doesn’t move as
strongly as other patterns. Patterns with shorter handles perform better than
longer handles, and deeper cups with the left lip slightly higher than the right
lip perform better.
Aviso legal
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