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I add an additional qualifier to cups and handles. Since it could be seen
from the left of the posted chart that this security was previously in
higher territory, to me it violates one of the tenets of the cup and handle,
that of the pattern which indicates that everyone holding it is at a profit
at the anticipated breakout up from the handle. Since this issue was higher
at the left side of the chart, this pattern was invalidated or at least
filtered in this timeframe. Suggested filter is that it does not need to be
at virgin highs, but there should be no higher highs in the given timeframe
window. Definition of a time frame window is of course up to you.
Darrin
>From: "Gitanshu Buch" <OnWingsOfEagles@xxxxxxxxxxxxx>
>Reply-To: OnWingsOfEagles@xxxxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: [RT] STK: AFCI - 2
>Date: Fri, 9 Jun 2000 13:46:17 -0400
>
>When the setup does not pan out as expected, it pays to take the hit and
>move on.
>
>QCOM and YHOO are recent failure examples, YHOO chart attached.
>
>RFMD is a similar case, only, on the positive side.
>
>Gitanshu
><< snap.gif >>
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