[RT] STK - chart pattern to die for

[MikeDolan6@xxxxxxx]

Phil,

I agree with you that the cup-and-handle pattern is a great pattern to trade. 
 The fact that these patterns come in all sizes and various shapes makes it 
difficult to program.  I have found that PatternSmasher has the right tools 
for this type of pattern.  I don't believe that the cup-with-handle pattern 
supplied with the program found ICCSA, but my modified version did find it.  
All I did was modify the patternbot to allow for handles that are higher than 
the rim of the cup.  Although this gives me more charts to look at, it does 
find some great patterns.

Mike


>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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
>