Chart Patterns & Algorithmic Trader ( Sept . 28 , ' 20 ) ( 25 )
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GC Cup & Handle Pattern s
Reviewed in CPAT
Gold Continuous Contract [ Dec20 ] (@ GC ) is forming a Cup and Handle pattern on its monthly chart and trading below the breakout level of $ 2118.2 . 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 $ 1662.6 , and the handle low $ 1874.2 . Targets are placed at $ 2464.3 , $ 2681 to $ 2834 .
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