Cup & Handle
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The Cup & Handle pattern is a bullish formation.
When price spikes to create a new high after an uptrend, it can fall for an extended period of time in a slowly forming cup/bowl formation.
As price continues to form the cup through its slowly curving downtrend, it eventually bottoms and begins to reverse that trend in the same manner by forming an upward-sloping cup/bowl formation.
After price reaches or nears its previous high at the start of the cup, there is often a small retracement before the original trend is continued and new highs are made.