Cup & Handle - CME Group Inc. (Public, NASDAQ:CME)

The bears failed to capitalize on early weakness and I got stuck on the wrong side of the trade in SU for a small loss. SU printed two shooting stars at the base of the R-zone of the RH to RL. They were quickly offset by hammers and I lowered my stop.

Similar action on CNQ except I managed to salvage the trade, and get in on the right side.

UTHR from yesterday's gap scan, set up a retracement trade in the R-zone back to PDH.




SOHU caught my eye with a Cup& Handle at the base of the retracement zone of the PDH to ORL. It was a little slow, so I decided to take half off at R1. It stalled at the 50% Fib extension of the low of the cup to the base, so I exit. Normally, for chart patterns we target a full measured move of 100%, but these usually break fast and wide. If they're slow, we have to manage them accordingly.

CME was ripping on my Trade-ideas scanner in the morning, but I didn't want to chase. Finally, it paused to consolidate midday. I took a cautious entry on break of the morning reaction high, trading it as a C&H pattern. Took a partial when it gave back the 50% Fib. ext. level and tightened stop on balance to 38%. Sweet!