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Chart Discussion Thread, page-478

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kiwijuice

3,612 Posts.

1220

24/05/19

18:39

Post #: 38735651
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Originally posted by kiwijuice: ↑

As a general rule the handle must not retrace more than 50% of the height of the cup, depends which points you take the top and bottom from but iv worked out 4 different ways and 2 end up with the 50% at .040 and with the 50% at 0.041, so a break of 0.041 this week would mean pattern is null and void and blue skys.
Couldnt be bothered drawing on a chart too much time so ill just write it out, look it up yourself for better understanding.
1. 53 top, 26 bottom = 27 difference, 50% = 14, = 0.040 max retrace
2. 53 - 29 - 24 - 50% -12 -29 =0.041
3. 51 - 29 - 22 - 50% -11 - 29 =0.040
4. 51 - 31 - 20 - 50% -10 - 31 =0.041

Good luck all

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Close at 4.2, reverse cup and handle null and void (not that it was going to play out anyway) Blue Skys ahead

EN1 Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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