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RLC/USDT : Cup & Handle formed ! for BINANCE:RLCUSDT by Helical_Trades

BINANCE:RLCUSDT
Hello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post’s comment section and hit the like button if you enjoyed it !

#RLC being hyped again recently, and the last 12H’s candle confirms the Cup & Handle formation.

Now it’s been rejected by the above Supply zone and it went to retest the local S/R zone ( Gray zone ) !

If #RLC manage to hold above the S/R zone, Then it will be likely to bounce above the supply and rush to conquer the Cup & Handle’s target.
– What is the target of Cup & Handle ?

The minimum target of C&H pattern is the length measured by unit’s scale from the dip till the top.

And the maximum target will be the percentage achieved by pattern from the dip till the top.

📚 Now the minimum target of C&H pattern is located on the higher H12’s order-block ! Which is measured as $2.700 unit !

– How we’ll play the chart ?

📍 I’ll be waiting for a fresh retest on the S/R here and take a solid LONG with a invalidation as a candle close below my entry, I’ll engage only 1.5% or lower of my portfolio !

In any other case, We’ll be rejected into 12H Demand !

📍 On other hand, We can play safe and wait for the breakout above the Supply above and take a proper LONG to claim order-block above !

I’ll engage the same rate of portfolio and set my invalidation as 3 candles close below the Supply.

📚 The average Risk/Reward will be around +8RR !

– Most of the needed information are mentioned on the chart, Hope you can earn enough !

Hope you enjoyed the content I created, You can support us with your likes and comments !

Attention: this isn’t financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades

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