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Quiz ~ Cup & Handle


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TK
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Joined: Mon Apr 9th, 2007
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  Posting #11: Sat Dec 29th, 2007 16:11

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Obviously u have been falled into a trap called 'your eye will see what you wanna to see' ......

This is exactly my concern.

 

:TQ:

 

Last edited on Sat Dec 29th, 2007 16:13 by TK
PeG
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  Posting #12: Sun Dec 30th, 2007 13:01

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I guess when it comes to analysing chart patterns, don't get too fixated into finding certain pattern/formation. Rather, look at it objectively to avoid falling in the trap of 'your mind sees what you wanna see'.

Below are just my 2 cents. Feel free to voice out if you have different opinions. Thanks.

First chart: CBSTECH



In simple words, Cbstech looks to have broke out from the double top formation here. I cannot find the 'round bottom' that you mentioned. Can you please circle which part you saw? Then we discuss further.

Second chart: MELATI



For a valid Cup & Handle formation, the volume at the right lip has to be strong if not stronger than the volume in the left lip which in this chart is missing. Anyhow, I can't seem to see the 'cup' formation here as well. I find that volume analysis is the MOST important factor in examining chart patterns. Volume is a double-edge sword, too much or lacking of it tells very different stories. How much is a lot? How much is less? It's all a matter of comparison. Learn to ALWAYS look to the left side of the chart every single time you read a chart. Observation is the key.

James 'CB-Agent008' Bond (Can your name be any longer???), I am not a pro at Cup & Handle pattern. I am just a pro NOOB. :p: 



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James Bull
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Joined: Mon Oct 16th, 2006
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  Posting #13: Sun Dec 30th, 2007 16:42

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I guess when it comes to analysing chart patterns, don't get too fixated into finding certain pattern/formation. Rather, look at it objectively to avoid falling in the trap of 'your mind sees what you wanna see'.

008 agree with :s77:. Never ever look for a reason to support 'your wishes' to buy or hold but to look for a reason to support your  buy/hold. Whenever u have wishes or so called HOPE, you will try to find a bullish sign and ignore bearish sign because u r no longer have an objective view.

Trade with objective mind, you can make a difference....

James 'CB-Agent008' Bond (Can your name be any longer???), I am not a pro at Cup & Handle pattern. I am just a pro NOOB. :p: 
 

Let me introduce myself again. My name is Bull, James Bull. CB is my middle name and my code name is agent 008. I work for MI6 and my superior is M. :p:

J.C. Bull / 008



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