Cup and Handle breakout trade on the DAX 1 minute chart (4th May 2018)

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Cup and handle patterns are excellent breakout chart patterns. They come in differing sizes and they can lead to breakouts either upward or downward from trading ranges.

This morning we had a range establish early on that was within a larger premarket range. The high of the small range was in the middle of the larger, longer term range and price formed a horizontal top.

The cup and handle had visible "W" characteristics with the lows in the pattern gradually rising.

I entered my trade in expectation of the breakout from the cup and handle pattern. My target was the high of the larger pre-market range.

In the end this trade made 3:1 reward to risk. A lovely start to the day.

If you are interested in learning to trade then take a look at our online courses at https://excellenceassured.com/trading

I tutor on the courses and would be delighted to work with you in improving your trading skills and working towards your trading objectives.

Видео Cup and Handle breakout trade on the DAX 1 minute chart (4th May 2018) канала AnthonyBeardsell