Hi billt,Today was good high volume breakout. I had this picked...

Hi billt,
Today was good high volume breakout. I had this picked based on trendlines, indicators and fibonacci levels. Whether or not it is a C&H, I wait to hear from someone more experienced. However, it is in no way textbook or classic.

Duration is almost twice that of the textbook definition. The start of the handle is much higher than the start of the cup (important, as it is selling by those who bought in at the start of the cup that provides the selling pressure, forming the handle). Yes, there is a nice pretty U shape, but that just means slowing selling followed by accelerating buying.

This is a 'textbook' C&H

1. 23Mar2010 Start of cup
2. 26Oct2010 Start of handle
3. 4Nov2010 Breakout

Regardless of what TA you use, PEN has broken out, and I'm expecting a great week.