Cup w/ Handles

[IIC]

First of all I think you're barking up the wrong tree. I wouldn't call that a decent cup base at all and the handle might be worse than the cup base. you should take it upon yourself to go somewhere and read up from an "acknowledgeable source" like Bulkowski on what a cup base and handle pattern really should look like and what the true definition is. after you have a firm grip on that then maybe, just maybe, you'll be able to apply some "fuzzy logic" to a pattern and stretch or adlib it a little bit to see if it still works. you had better learn and know the right way first before you put to many bad habits in place. it's much harder to rid yourself of them once they have been ingrained and they're wrong to start with.
this is a prime example of spewing out the wrong info about anything that people like yourself, who don't know better, accept as the real deal and then go off and try to trade those patterns thinking that they are right and will work out the higher percentage of times.
check this site out, www.thepatternsite.com. it's Bukowski's site on chart formations and patterns. it will set you straight as to what all of these patterns should look like and the percentages of them working out.

Chill Out Ski...Are you trying to discourage questions?

[skiracer]

Doug,

Though my picks for the POTWs are doing well to date (fingers crossed, knock on wood, throw salt over my shoulder) I still need a bit of hand holding while reading charts.

In your opinion does PCP qualify for a cup w handles??? or is the right handle not formed correctly???

Chris

First of all I think you're barking up the wrong tree. I wouldn't call that a decent cup base at all and the handle might be worse than the cup base. you should take it upon yourself to go somewhere and read up from an "acknowledgeable source" like Bulkowski on what a cup base and handle pattern really should look like and what the true definition is. after you have a firm grip on that then maybe, just maybe, you'll be able to apply some "fuzzy logic" to a pattern and stretch or adlib it a little bit to see if it still works. you had better learn and know the right way first before you put to many bad habits in place. it's much harder to rid yourself of them once they have been ingrained and they're wrong to start with.
this is a prime example of spewing out the wrong info about anything that people like yourself, who don't know better, accept as the real deal and then go off and try to trade those patterns thinking that they are right and will work out the higher percentage of times.
check this site out, www.thepatternsite.com. it's Bukowski's site on chart formations and patterns. it will set you straight as to what all of these patterns should look like and the percentages of them working out.

[skiracer]

FYI...This week's Cups w/ Handles and Patterns of Interest are updated at http://SharpTraders.com Please take a look.

As a little extra treat I also jotted down some ticker symbols that I noticed in my scans that may be forming the right side of a cup...Here they are.

http://stockcharts.com/charts/candleglance.php?ARGN,CENX,CMC,CPL,CRDN,FAST,FRPT,GMCR,LOOP,MA|D

http://stockcharts.com/charts/candleglance.php?MSFT,NHWK,PFE,RATE,ROL,SNHY,SPEC|D

Thx...Doug(IIC)


.

geez doug, that's a real innovative idea you came up with there regarding looking at them when they begin to make the right side of their cup. sounds like a pretty decent idea and what a treat. btw where did you come up with that strategy. is that a new one that you came up with on your own. sounds like a pretty decent strategy if you could just catch them when they bottom out in the cup base and start to make that right side of their cup.

[IIC]

FYI...This week's Cups w/ Handles and Patterns of Interest are updated at http://SharpTraders.com Please take a look.

As a little extra treat I also jotted down some ticker symbols that I noticed in my scans that may be forming the right side of a cup...Here they are:

http://stockcharts.com/charts/candleglance.php?ARGN,CENX,CMC,CPL,CRDN,FAST,FRPT,GMCR,LOOP,MA|D

http://stockcharts.com/charts/candleglance.php?MSFT,NHWK,PFE,RATE,ROL,SNHY,SPEC|D

Thx...Doug(IIC)


.

[IIC]

Doug,

Though my picks for the POTWs are doing well to date (fingers crossed, knock on wood, throw salt over my shoulder) I still need a bit of hand holding while reading charts.

In your opinion does PCP qualify for a cup w handles??? or is the right handle not formed correctly???

Chris

Well...We have Ski's "Acknowlegeables"(whatever the hell that means???) opinion and you have my opinion...Doesn't qualify as a CLASSIC in either case...But it is close...The right side is a little bit high (I prefer that the rt and lt side highs are within 5%(just misses)...Now we have that intraday low dn to 110.82...that is not classic...but then again we could say that was the start of a new formation(my first look puts the lt side hi at 144.89. If we take this as a new formation then the new lt side hi is at 139.41 which is too low vis-a-vis the rt side hi.

Anyway...it looks interesting and I would put it on our PoI list which are ones that don't fit the classic pattern but are close.

Also...would've liked to see more vol on the rt side before the handle...Handle may still be forming...I know the Acknowlegeables want a week long handle...But the Unacknowlegeables don't require that...GOOD EYE...Best, Doug(IIC)