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invest-abc wrote:People who follow this pattern I think would ideally look for a less steeper handle. Here the handle seems to be pretty steep even nearing the base of the cup. According to William O'Neil's interpretations - "The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout." Also, need to closely monitor the volumes. Volumes would have to increase significantly for the breakout.
Last edited by slstock on Sat Jul 02, 2011 6:49 am; edited 1 time in total
Last edited by gann on Sat Jul 02, 2011 11:39 am; edited 2 times in total
Last edited by GJ on Sat Jul 02, 2011 3:22 pm; edited 1 time in total
gann wrote:Cup and handle is effective only after a selling climax not at a major top![]()
Little knowledge is dangerous.
StocksWatch wrote:gann wrote:Cup and handle is effective only after a selling climax not at a major top![]()
Little knowledge is dangerous.
Very much true gann. The handle should be formed by the selling pressure of those who bought the share at and around the previous high. Also the handle should not be too deep and ideally be in the top half of the cup formation.
mcyi9rt4 wrote:dear sir how do i obtain such the graph you have put????????
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