cup and handle on bac

nq 2021 0304 .png
 
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murray t turtle said:
have no idea s on a subjective patterns like his cup with handles/LOL; except in 20/20 hindsight he always charts a cup with handle
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murray t turtle said:
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AFTER all these years/ i never have spotted a cup with handle\except in IBD /textbooks= too subjective.....
BuT REALLY/its a pic of an uptrend above 200 day moving average/buy.
Reasonable BAC uptrend but FEB tends to be so weak\week. Messy chart on 3 year but ok on 2021...........................................................................................................
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Cup and Handle Thread

"AFTER all these years/ i never have spotted a cup with handle"

"cup and handle thing only works in the textbook.
In real-world, the price can move in thousands of patterns/manners"

There are setups that are deemed not likely.
People on this forum do this as much as anybody else.
There's an example of this above Michael Jackson eating popcorn in the links below.

Who wants to dis a method?
Good luck, nobody knows what it is.
It is Propiotary, lol
Fair enough.

Any PA method that has easily definable parameters is Not To Be Considered by some.
Fair enough.
They are wrong a non-optimal percentage of the time just as any other trader is.


"All I can say is believe None of what you read, and only Half of what you see."

It's so easy to simply reject and nip in the bud any consideration of a method. "All you gotta say is Prove It." To be a Dream Killer. Will it be easy? Nope.

How about this, Do Your Stats, if the setup works in a your hands trader, then proceed accordingly.
No sooner.

"Defy Human Nature, Do The Work Yourself."
Your mom is not going to do your stats for you

If a setup does not speak to you to the point that you've Never Seen One In The Wild, does not mean that is the be all and end all for someone who likes the looks of it, does stats of a dozen or two, and if it still looks reasonable, then do another eighty.

Yes eighty, at least. Is that a lot of work? You bet your ass. How many traders do it, One out of a Hundred.

Now, Who is gonna hand that over to ones who are not on that wavelength.

Those traders are on a different wavelength.

Bandwidth only allows a limited amount of focus and limited number of setups that any trader can focus diligently on. No two traders work the same way.


What's this cup and handle of which you speak? lol
Go here for a quick start.
https://www.elitetrader.com/et/threads/cup-and-handle-on-bac.356343/#post-5336128

Now then, as to hindsight.
https://www.elitetrader.com/et/thre...ulder-buyyyyyyyyyy.359798/page-4#post-5414045

If you walk back the little red arrows that point up to the prior linked post, and follow the trail Two Skips Back, you'll see a chart that is concurrent with that post, not only that but there's your nonexistant Cup and Handle, marked out on that messy old chart, you'll see a cup and handle called at the time around initiation and follows with a couple charts after showing the unfolding of that setup. Right there after the non-existant Head and Shoulders, lol. There's your cup and handle. Not a Chance you say? Hard to believe? lol. Never seen one, textbook BS? Sure You're Right.lol.

That ain't hindsight.
That's a cup and handle my friend, lol.

Right This Way ...
Walk those little red arrows back a couple of notches.
That's not really there.
It's a holographic universe.
Totally made up.

https://www.elitetrader.com/et/thre...ulder-buyyyyyyyyyy.359798/page-4#post-5414045
 
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shark-attack-mug.jpeg

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mug05.jpg
me-time-teacup.jpeg

many professional writers don't spend enough time analyzing charts.

I spent thousands of hours learning those things.
I also spent thousands of hours trying to unlearn / delete what I had learned.

cups and handles come in various shapes / sizes / patterns.
chart patterns also come in various shapes / sizes / patterns.
 
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Handle123 said:
Aren't most cup and handle patterns rather subjective? Very few do I actually see, never been huge fan of this pattern as it is hard to program.
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well, look through this thread, search for a bona fide set of rules for entry.
Are they subjective?
Are they hard to program?

Which is your biggest complaint?
Some people can spot em, others don't.
If a method does not resonate with you,
if a method does not speak to you,

What are you doing?
There's a million methods out there.
Go find one you like
Prove it to yourself,
and Rock and Roll.
Get Busy, Time's a wastin', lol.

Max has his method that he likes.
Just ask him, he's a font of actionable information.

Noobs and anybody wants to look at one of a thousand writeups on
The Mysterious Elusive Cup and Handle Trading Strategy.
Right here Baby, lol.
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-12#post-5046435

If It doesn't resonate, don't bother with doing stats.
Go find something else.
If it resonates, do your stats.
Prove to yourself whether YOU can operate that setup.
If not, once again, move along to something else.

Once you have a working strategy,
Then, you may or may not need 2.
If you're curious, and want more than one tool in your box
Then you get to do it all over again.
Cheers!
Position Sizing.

Rather not go through benchmarking a strat all over again?
Why not Use your Benchmarked Strat and Go look for more trades instead?
Use Bracket trades maybe to manage your entries, stops and targets.
 
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