Chart Patterns & Algorithmic Trader (Sep. 14, '20) (20)
$INDU Cup & Handle Pattern
s
Reviewed in CPAT
Dow Jones Industrial Average ($INDU) is forming a Cup and Handle pattern on its daily
chart and trading near the breakout level of $29568.67. C&H patterns are valid only
when price closes above the breakout level. A long trade is entered above the
breakout level with a stop placed below the lowest low of the mid cup $23891.11, and
the handle low $28074.76. Targets are placed at $33883.44, $36585.9 to $38493.5.
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