Funny you should mention BTC, my very rudimentary TA skills...

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lockstock79

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26/10/21

08:06

Post #: 57065824
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Originally posted by RitzyBusiness: ↑

haha .. fair call.

IMU is the Cup & Handle pattern we are all yet to profit from. Conventional wisdom says you enter the trade after the breakout from the handle. But I like to enter early.

The other one is Bitcoin (BTC). BTC just regained its ATH of USD66k last week (forming the cup) and has pulled back (partial handle). Watch out for the break above USD67k ... it will run hard and fast to over USD100k in short time. There are also plenty of fundamental and FOMO reasons for this, but I won't get into that now.

About 12 months ago, I profited from another BTC cup and handle pattern ... previous high was USD20k in 2018. Once it was regained in late 2020 after a couple of years of pull back and consolidation, BTC run hard to USD66k.

Previous ASX listed stock cup and handles I have profited from recently were CXO and NVX. Notice how hard and fast CXO and NVX run once the breakout was confirmed.

BTC, CXO and NVX charts are provided in this post. Compared these to the IMU Cup & Handle pattern I provided earlier. I argue that the IMU chart is the best looking Cup & Handle pattern of them all.

I will definitely keep looking out for Cup & Handle patterns in the ASX and share on HC, but I won't post them in the IMU thread in case I get pulled over for cross promoting. Will post in the relevant stock HC threads ... if interested, you can follow me to get updates.

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Funny you should mention BTC, my very rudimentary TA skills highlighted the likelihood of a cup and handle playing out. I am not however trading BTC, but rather buying a couple of ASIC miners and getting in before their price jumps up in response to the BTC price.

Thanks for pointing out those other stocks that have exhibited the same cup and handle, it is always good for TA noobs like me to see plenty of examples to help hone the skills. Cheers.

IMU Price at posting: 47.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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