US100: Wait for the Close
Cup and handle on the daily, but I need a clean close above the old high before I touch it. No interest in guessing breakouts.
US100 has this textbook cup and handle pattern on the daily. Neckline is the current all-time high. Everyone is watching it, which makes me cautious.
I need to see a daily candle close above that level before I even think about buying. If it happens, I'll get long for a continuation higher. If it fails, we get a fakeout and I stay out.
No reason to front-run a pattern that's been spotted by every retail trader on the planet.

Comments5