Posted by trade_happy on 3rd of Apr 2009 at 02:10 pm
On that 1min chart, that shape you see that looks like a Cup and
Handle is tilted, I think, too much to be a C&H - you wanna see
those level. However, what you're looking at is STILL
something that indicates upside. Here's why: it's
basically a strong uptrend that goes into sideways consolidation,
and in those instances the chart tends to leave consolidation in
the same direction in which it entered consolidation, in this case
UP.
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Title: $DJR pattern question on a
SRS
Posted by straws on 3rd of Apr 2009 at 02:00 pm
on a 1 min chart... Is that what is known as a "Cup and Handle" that would play to the upside?
On that 1min chart, that
Posted by trade_happy on 3rd of Apr 2009 at 02:10 pm
On that 1min chart, that shape you see that looks like a Cup and Handle is tilted, I think, too much to be a C&H - you wanna see those level. However, what you're looking at is STILL something that indicates upside. Here's why: it's basically a strong uptrend that goes into sideways consolidation, and in those instances the chart tends to leave consolidation in the same direction in which it entered consolidation, in this case UP.