Chart Patterns & Algorithmic Trader ( Sept . 28 , ' 20 ) ( 21 )
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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 below 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 $ 26537.01 . Targets are placed at $ 33883.44 , $ 36585.9 to $ 38493.5 .
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