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Anybody believe in the "cup and handle" pattern yet?
More to the point, can anybody think of a way to computerize it?????
It would need to be independent of the vertical and horizontal scaling.
These things come in all sizes. How about a template pattern that the
computer would automatically re-dimension and step through a series of
sizes - checking each for correlation with your stock charts? Just
"slightly" beyond my programming abilities!
rgds phil
----- Original Message -----
From: Phil Lane <patterntrader@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Sunday, February 06, 2000 4:51 PM
Subject: [RT] STK - chart pattern to die for
> ICCSA is looking pretty interesting. The yellow line is the former
all-time
> high - the stock just recently started breaking out.
>
> On the weekly chart you will note the tremendous swell in volume as it
comes
> up to it's former all-time high. It's formed a classic "cup-and-handle"
> basing pattern, as shown (roughly) by the purple curves. There's a
> cup-and-hande within the main cup, shown in cyan. A classic
self-replicating
> pattern.
>
> The daily chart focuses on the current "handle" formation. Arrows mark key
> accumulation days coming off dried-out volume lows. The volume pattern
shows
> the characteristic "ramping down" behavior on the pullbacks.
>
> All the signs are present for a big move to come.
>
> fwiw, phil
> http://www.patterntrader.com
>
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