First. Everyone knows news trumps all. You could be in a head and shoulder top reversal pattern with the PPS failing shoulder support and have news come out to make the pattern fail as the PPS stays and rises above shoulder support instead of crashing below it. This is an older chart, no time to do a new one but it will suffice.
Like every chart pattern or even candle patterns for that matter they need confirmation. Confirmation comes for a cup with handle when the PPS rises above the cup line. There is no real duration or limit on how long it takes to form and complete the handle.
The other poster was correct. The handle is incomplete. I had thought it would keep moving up but it had trouble breaking above the 20ma and is now increasingly moving away from a 20ma that appears ready to roll over thus we both think it will settle low .05's.
So to answer your question that kind of move on news would confirm the cup with handle pattern. Nothing more nothing less. A stronger move would be for the cup with handle pattern to confirm (break out above the cup) with now news.
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