cup & handle ?, page-58

Hi CM
yes certainly enjoy a TA chat,never stop learning with so many smart folks sharing on this forum and newer TA traders evolving ideas due to such a competitive market,with outcomes of a lot of our traditional chart patterns diminishing/diluting.
Suppose we need to look at why you are keen to see a Cup and Handle set up...I was of the impression that there was a potential target of an outbreak equivalent to 100% of the cup base to top repeating. thats ideal but its no longer likely,
If you look at Bulkowski's statistical analysis of the pattern, the outcome has now diminished to 50% of the cup height..

Bulkowski's Pattern Site Link
There are Cup and Handle prerequisites such as a rising trend starting point as detailed on that link, It doesnt mean that ESI isnt in an interesting technical pattern, I look at it more as an alert of a potential double top which already failed and retraced some 30%
It is now back in an accumulation phase which will form a pennant or flag pattern as shown on the attached chart which has a projected breakout target arrowed..
I think Bulkowski is a great read for other ideas and reviews of our often outdated TA knowledge..

a bit disjointed but hope this reads OK
cheers