Thanks for your precious time & do put your feedback below in comment section - I would love to hear from you. Most of us can learn as well -
----------------------------------------------------------------------------------------------------------------------------------------- Correction - Sorry using "circular shape" over the video - Its a curve shape from 168 to 185 - silly mistake -happens.
Enjoy the Coffee in The Cup - With Double Bottoms80
Cup & Handle Pattern
A cup and handle price pattern resembles a cup and handle where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume, and may be as short as 7 weeks or as long as 60-75 weeks- roughly a year and half.
The fall from 185 in Nov 2017 shall complete a year in Nov 2018 so that would be the period or time zone plus couple of months more- one should be alert as its aroma could spread across the globe & everyone would be interested to take a sip.
Cup and Handle Stops and Targets
A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. Successive breakout zone shall be above 175-185 & I am taking conservative target measuring 85 points which is depth of the cup above 168-170 zone or above 185 as shown over the video, which gives a roughly target zone of 250-280. Once it breaks out & above 140 key level –make sure it never returns back below 140-135 zone else that could be risky.
--------------------------------------------------------------------------------------------------------------------------------------------- Trading Strategy Suggested on 26th Aug 2018
Plan A – Wait for the stock to cross 140 & upper trendline of the handle & maintain stops below 135 once it crosses above 140 – Target Zone -175-180 & Above 185 – as 250-260.
Plan B - Look to buy above 175-185 zone & keep in mind –price should not dip below 175 after crossing the zone of 175-185- Target Zone 250-260.
Plan C- Plan to buy in 80-85 zone with strict stops below 80 – if goes below 80 –Throw the broken cup.
Short Term Strategy
Plan A – We look to sell from 115-117 zone with stops above 118.50 for target 112 – 106- 101
Plan B – Buy above 118.50 for 121-123 zone - book & out.
Plan C – Sell from 122-125 zone with strict stops above 128 – Target zone -118 -112-106 - 101
Coffee stock has range bound move between 100 & 85 zone - as suggested in the Trading Strategy as top end that "look to buy at dips at 90 -85 & Throw away the cup if goes below 80 level"
We got 1st buying at 90's next if you get to buy close to 85 that could be amazing or wait for move above 100/101 Highs
Expect Good Move once ------------100/101 is taken out on upside but no trades if 80 gets broken on downside.
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