XRPUSD - 1D - Cup and Handle?

Not a financial advisor. This is just for information purposes.

Currently looking at a possible Cup and Handle formation near support (from the channel developed since March) on the XRPUSD Daily.
In case it breaks the neckline, XRPUSD has a possible target near the 0.30 (high 0.29's).
I would put a stop loss below the handle. This would mean a 3:1 Risk Reward.

Kommentera:

I am not 100% certain whether this is a Cup & Handle or not.
Regardless I see possible break of resistance from the previous candle closes while price is near channel support.
I say "possible break" as we need to wait about 3 hours to get the daily close.

Kommentera:

interesting move!

Trade stängt: målet nått:

Target reached.
Surely there are targets above this one,
mainly looking at the top of the channel...
(Good luck)