Chart Patterns & Algorithmic Trader ( Sept . 28 , ' 20 ) ( 27 )
@ TRAN Cup & Handle Pattern
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Dow Jones Transportation Index ($ TRAN ) is forming a Cup and Handle pattern on its daily chart and trading near the breakout level of $ 11359.59 . 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 $ 8920.34 . Targets are placed at $ 13213.24 , $ 14374.3 to $ 15193.8 .
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