Cup & Handle - STT, AAPL, JPM

STT from the Trade-Ideas pre-market scanner, formed a cup & handle just prior to market open. This is a little riskier because it involves buying the open, so size it accordingly. I took a partial at R2 (dotted red line) which was close enough to the measured move target 100% FE and in line with round$ number. Then it carved out an IB in the upper shadow of the OR, so I was confident we could go higher. Exit balance at 150% FE.

After STT carved out a lower high, I was watching for a shorting opp. - NRIB was good for a retracement back to the rising 20 EMA.

AAPL formed a perfect C&H at the base of the ORH (entry as price takes out $124.00). It made a fast move to the middle ground between the 62% FE and R2 then stalled. I took a partial and then we consolidated at length before, finally taking out R2 and the full extension. After all that consolidation, I thought we might go higher, but not enough momentum.


JPM, another C&H pattern, stalled at the 38% FE so I moved my stop just below the whole $ level. It didn't retest the base, but took forever to form a second base. Worth the wait!

The C&H pattern should BO on an uptick in volume. JPM was suspect because of the minor uptick on BO.