Nearly matching highs after a long correction with pretty decent mirroring between descending and ascending periods (within the "cup"). Price has already retraced 38.2% of the cup, which measures the total retracement off of the all-time high (ATH). The fact that price tested major structure support at that level is supportive of the possibility that the "handle" is already in.
This pattern isn't confirmed until price closes above the ATH.
Traditionally, the target is the "size" (distance) of the cup (2.0 fibs extension) from the breakout. I find that targeting about 62% (1.618 fibs extension) of that distance is sufficiently more successful to substitute as the target
This pattern isn't confirmed until price closes above the ATH.
Traditionally, the target is the "size" (distance) of the cup (2.0 fibs extension) from the breakout. I find that targeting about 62% (1.618 fibs extension) of that distance is sufficiently more successful to substitute as the target