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  • #611,041
  • Mar 16, 2012 1:41pm Mar 16, 2012 1:41pm
the pattern you mention is not strictly a h&s its called a cup and handle and here's an example...

Quoting RamsesII
has this inverse h&s been pointed out yet?
Attached Image
  • #611,042
  • Mar 16, 2012 1:49pm Mar 16, 2012 1:49pm
Quoting caldera
the pattern you mention is not strictly a h&s its called a cup and handle and here's an example...
Yes cup and handle and head and shoulders can often look similar, but you'll notice on the h&s that I outlined, both shoulders are within 2 pips of each other so this is a very nice symmetrical h&s and NOT a cup and handle. The example you showed, in my opinion, looks closer to a h&s than a cup and handle. Your example has a move down from the neckline and a retest which clearly showed a shoulder, whereas the example I have shown here is a smooth move down without the neckline retest. H&S are a much better pattern to trade imo.

http://i.investopedia.com/inv/dictio...and_Handle.gif



Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: 16MAR12EURO.PNG Size: 20 KB
Attached Image
Don't have an ego. Always question yourself and your ability.
  • #611,043
  • Mar 16, 2012 1:57pm Mar 16, 2012 1:57pm
hope you dont mind me annotating your chart... if this is a cup and handle then we should see a handle form and then a break out above to your target...


Quoting RamsesII
Yes cup and handle and head and shoulders can often look similar, but you'll notice on the h&s that I outlined, both shoulders are within 2 pips of each other so this is a very nice symmetrical h&s and NOT a cup and handle. The example you showed, in my opinion, looks closer to a h&s than a cup and handle. Your example has a move down from the neckline and a retest which clearly showed a shoulder, whereas the example I have shown here is a smooth move down without the neckline retest. H&S are a much better pattern to trade imo.

http://i.investopedia.com/inv/dictio...and_Handle.gif



Regards....
  • #611,044
  • Mar 16, 2012 1:59pm Mar 16, 2012 1:59pm
sorry forgot to upload...

heres the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 16MAR12EURO.PNG Size: 27 KB
  • #611,045
  • Mar 16, 2012 2:00pm Mar 16, 2012 2:00pm
Quoting caldera
hope you dont mind me annotating your chart... if this is a cup and handle then we should see a handle form and then a break out above to your target...
Yes, the current PA can develop into a CUP and Handle, but I think it's too early to predict the pattern, I like to see if the pattern is successful, and then play to the projected target.
Don't have an ego. Always question yourself and your ability.
  • #611,046
  • Mar 16, 2012 2:01pm Mar 16, 2012 2:01pm
Quoting caldera
sorry forgot to upload...

heres the chart
A pullback to 1.3110-1.3140 would be a great opportunity to reload long.
Don't have an ego. Always question yourself and your ability.
  • #611,047
  • Mar 16, 2012 2:08pm Mar 16, 2012 2:08pm
I guess we'll see next week... for now the price is stubbornly holding 1.3160... looking at the current price action it doesn't look like theres going to be a retracement until monday...

hope it all works out for you...


Quoting RamsesII
A pullback to 1.3110-1.3140 would be a great opportunity to reload long.
  • #611,048
  • Edited 2:21pm Mar 16, 2012 2:15pm | Edited 2:21pm
The fromation is of a cup with a handle. They didn't have a like button so i had to make a comment.
Quoting caldera
the pattern you mention is not strictly a h&s its called a cup and handle and here's an example...
  • #611,049
  • Mar 16, 2012 2:21pm Mar 16, 2012 2:21pm
Thanks GlobalTradr i appreciate your comment...

Quoting GlobalTradr
The fromation is of a cup with a handle. They didn't have a like button so i had to make a comment.
  • #611,050
  • Mar 16, 2012 2:29pm Mar 16, 2012 2:29pm
cup and handle, butterfly, head and shoulders, double top, triple top, double bottom, triple bottom, triangles, flats, zig zags, etc... all are useless and wrong interpretations of the charts presented to the public in a simple easy to be misleading way
When life gives you lemons, make lemonade
  • #611,051
  • Mar 16, 2012 2:33pm Mar 16, 2012 2:33pm
Quoting micho
cup and handle, butterfly, head and shoulders, double top, triple top, double bottom, triple bottom, triangles, flats, zig zags, etc... all are useless and wrong interpretations of the charts presented to the public in a simple easy to be misleading way
triangles are useless
Don't have an ego. Always question yourself and your ability.
  • #611,052
  • Mar 16, 2012 2:34pm Mar 16, 2012 2:34pm
Quoting micho
cup and handle, butterfly, head and shoulders, double top, triple top, double bottom, triple bottom, triangles, flats, zig zags, etc... all are useless and wrong interpretations of the charts presented to the public in a simple easy to be misleading way
What are you talking about, they work 5% of the time.
  • #611,053
  • Mar 16, 2012 2:39pm Mar 16, 2012 2:39pm
Quoting micho
cup and handle, butterfly, head and shoulders, double top, triple top, double bottom, triple bottom, triangles, flats, zig zags, etc... all are useless and wrong interpretations of the charts presented to the public in a simple easy to be misleading way
What about candlestick patterns?
  • #611,054
  • Mar 16, 2012 2:40pm Mar 16, 2012 2:40pm
they never let u know the real patterns.
There is no substitute of hard work and experience. $ € £ ¥
  • #611,055
  • Mar 16, 2012 2:40pm Mar 16, 2012 2:40pm
really the charts are not about geometry, they are about sequences and equations in analysis
When life gives you lemons, make lemonade
  • #611,056
  • Mar 16, 2012 2:41pm Mar 16, 2012 2:41pm
Quoting pip.com
they never let u know the real patterns.
there are no real patterns, its not geometry or drawing its about analysis
When life gives you lemons, make lemonade
  • #611,057
  • Mar 16, 2012 2:41pm Mar 16, 2012 2:41pm
there's a degree of subjectivity with any analysis here, to say anything otherwise is a bit misleading... but given your level of experience (i've seen you posting here for a while)... even you must agree that patterns encapsulate price action which can be explained using supply/demand support/resistance etc... which are the fundamentals of the market

Quoting micho
cup and handle, butterfly, head and shoulders, double top, triple top, double bottom, triple bottom, triangles, flats, zig zags, etc... all are useless and wrong interpretations of the charts presented to the public in a simple easy to be misleading way
  • #611,058
  • Mar 16, 2012 2:42pm Mar 16, 2012 2:42pm
Quoting Patternz
What about candlestick patterns?
candlesticks are something else, they represent the open, close... etc... they are very useful if you take other things into consideration with them
When life gives you lemons, make lemonade
  • #611,059
  • Mar 16, 2012 2:44pm Mar 16, 2012 2:44pm
Quoting micho
there are no real patterns, its not geometry or drawing its about analysis
more of an art
There is no substitute of hard work and experience. $ € £ ¥
  • #611,060
  • Mar 16, 2012 2:46pm Mar 16, 2012 2:46pm
Quoting Patternz
What about candlestick patterns?
The problem is that people trade every single dojo they see. You need to know when a signal is valid and when it is just noise.
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