Massive inverse head and shoulder formation, page-7

Hi monkey- yes these sorts of pattern descriptions are valid over any timeframe: intra-day, daily, weekly, monthly, yearly- whatever. Because basically they describe a particular pattern of trading and testing of support and resistance levels after they have happened, after a particular type of price increase/decrease has occurred, after all the conditions are met to qualify as being that particular pattern. They are a good charting language "shortcut" to describe a particular situation that has played out or potentially could play out. 

Support and resistance levels from the distant past can and do influence support and resistance levels playing out today- is that what you mean by "is that too long a time frame to matter"? If a 2 year cup and handle plays out, then clearly (after the fact) the left rim level of the cup is proved to be a significant level, the downward "handle" was good enough testing to get rid of unwanted supply, and the following breakout above the right rim was successful. The breakout is not predicted by the cup and handle formation, the breakout is described by the cup and handle.

All this has to happen before it is a "cup and handle" so not much good for letting you know when to get out at the left rim, when to get in at the bottom of the cup and what to do when price approaches or is rejected at the right rim! So to me, especially if you already have a grasp on support and resistance levels and the reasons they occur, these patterns seem to add almost no predictive value. Perhaps until after they have played out, and then you could look at what the "typical" expected rise/fall will be, but I've not found anything that indicates a toss of a coin would be any less useful.  

Just my thoughts- (just thinking aloud really so not only specifically answering the question) I'm still very early exploring the world of charting and TA so happy for someone to jump in to add or disagree!