Classic Cup & Handle pattern Long
Real Estate Select Sector SPDR Fund (The)Arca
Opis
⋅ We are seeing a cup & head pattern on this real estate ETF.
How to enter a position:
- First entry: 20% of full amount, when it breaks the high of the handle of the cup.
- Second entry: 80% is the cross above the high of the cup, confirming the bullish pattern.
Risk-reward setup:
- Profit-exit: Full target is $53 approximately. 10sma has been working well with a trailing stop for a partial sell.
- Loss-exit: the target is denied, if we close below the november 1st low; at which point I would exit 100%.
Good luck, and have a great weekend everyone!