Current pattern [bullish]: Cup and Handle - page 2.

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Quote from: afbitcoins on October 28, 2013, 11:34:38 AM

Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?

Not all speculators are TA devotees. While I don't dismiss TA personally, I do take it with a large grain of salt when applied to Bitcoin.

Even scientists have been known to check their horoscopes. It's fun.

NamelessOne

legendary

Activity: 840

Merit: 1000

Quote from: afbitcoins on October 28, 2013, 11:34:38 AM

Quote from: Rannasha on October 28, 2013, 11:20:32 AM

Quote from: SheHadMANHands on October 27, 2013, 06:49:26 PM

Quote from: freethink2013 on October 27, 2013, 06:20:03 PM

These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.

There's two things:

1. Supply.
2. Demand.

Actually pretty solid reason behind the cup and handle:
http://www.investopedia.com/terms/c/cupandhandle.asp

That's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern.

Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me.

Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?

+1, TA is simply the analysis of the psychology of people playing out on the market. It is really quite fascinating.

afbitcoins

legendary

Activity: 2101

Merit: 1061

Quote from: Rannasha on October 28, 2013, 11:20:32 AM

Quote from: SheHadMANHands on October 27, 2013, 06:49:26 PM

Quote from: freethink2013 on October 27, 2013, 06:20:03 PM

These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.

There's two things:

1. Supply.
2. Demand.

Actually pretty solid reason behind the cup and handle:
http://www.investopedia.com/terms/c/cupandhandle.asp

That's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern.

Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me.

Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?

notme

legendary

Activity: 1904

Merit: 1002

Previous trades indicate current positions. Current positions influence future trades.

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: SheHadMANHands on October 27, 2013, 06:49:26 PM

Quote from: freethink2013 on October 27, 2013, 06:20:03 PM

These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.

There's two things:

1. Supply.
2. Demand.

Actually pretty solid reason behind the cup and handle:
http://www.investopedia.com/terms/c/cupandhandle.asp

That's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern.

Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me.

afbitcoins

legendary

Activity: 2101

Merit: 1061

For fun, heres a giant one in silver spanning decades

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Quote from: freethink2013 on October 27, 2013, 06:20:03 PM

These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.

There's two things:

1. Supply.
2. Demand.

Actually pretty solid reason behind the cup and handle:
http://www.investopedia.com/terms/c/cupandhandle.asp

Of course, it's really all an attempt to determine what's most probable of happening next. It's not like "oh, gee.. obvious cup and handle. 100% we're going through the roof soon". 55% confidence would be pretty profitable.

freethink2013

full member

Activity: 224

Merit: 100

These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.

There's two things:

1. Supply.
2. Demand.

windjc

legendary

Activity: 2156

Merit: 1070

There is no cup and handle pattern happening.

However, what is happening now seems to be a microcosm of what the market has done since April, with a the bottom a few days ago being similar to the one in July.

spiral_mind

full member

Activity: 146

Merit: 100

Yes 2 days was a short "handle" but obviously it wasn't done forming yet, and still isn't. Still looks on track to me though:

Zangelbert Bingledack

legendary

Activity: 1036

Merit: 1000

Yeah, after a week or so of bouncing around $200 there will be more of a handle.

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Quote from: JustAnotherSheep on October 25, 2013, 07:33:02 PM

6 month cup and 2 day handle? Seriously?

Good point. Make the handle longer...

I don't think we're going to be able to make the cup smaller.

JustAnotherSheep

full member

Activity: 239

Merit: 100

6 month cup and 2 day handle? Seriously?

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Since this got no love earlier.... and it took me freakin 10 whole minutes to artistically assemble... Cool

The mother...

Of all of the cups...

And every handle that ever lived...

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Seems too good to be true, but I guess we'll see. May be some more consolidation in order first.. Some unexpected, random whale dumps can always fck up any pattern in Bitcoin.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

yes.

Walsoraj

hero member

Activity: 686

Merit: 500

Ultranode

no.

spiral_mind

full member

Activity: 146

Merit: 100

Read more about the cup and handle: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont

Quote

The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.

Cup:

Handle:

Topic: Current pattern [bullish]: Cup and Handle - page 2. (Read 4361 times)