A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits by Thomsett Michael C

Author:Thomsett, Michael C. [Thomsett, Michael C.]
Language: eng
Format: azw3
Publisher: Pearson Education
Published: 2015-06-23T16:00:00+00:00

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Key Point

The cup and handle is a specific type of continuation signal, but compared to other, less complex ones, it is not always easily recognized.

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The third and final price peak pauses just above $125. The small cup and handle predict accurately that the rising support is not in any danger. Two attempts at breakout at the end of the chart fail. In the period after the charted three years, support continues to hold but resistance levels out. This forms a two-month bullish continuation signal in the form of an ascending triangle in the time beyond this chart, adding further to confidence in the primary bullish trend.

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