JBLU made it to 21.73, and price popped out of the upper bollinger band. This shows momentum but price is usually drawn back in to the bands.
Long entry level is an at or above level and hopefully is over immediate resistance. Long entry level can be subjective.
There is support at handle low and at mid cup level.
Cup depth is 15.04. Targets are calculated by taking the depth of the cup and applying fib levels to long entry level. I use 38 (.382) percent, 62 (.681) and 79 percent (.782). You can multiply the depth by these fib levels or these percentages. There are different ways to do this, and you can also add a fib table to the top of the cup.
Not a recommendation.
Kommentera
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To get targets 2, you can add higher fib levels such as 1.27 and 1.618
Sorry for all the comments. I love your posts. So if i understand correctly, you take the depth of the cup to the support at the handle and apply that depth measurement to the top of the cup? You then overlay fib levels and consider each of those resistance levels? Thanks!