I'm sorry but that's not a cup and handle formation.
there needs to be a double top and then a handle.
GJMRealEstate
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@somanystreams, how about call it a bucket and shovel handle? either way the retrace and channel support/resistance is ultimately where the trade signal will come from.
GJMRealEstate
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@somanystreams, not enough data history on trading view but looks close enough for me.
somanystreams
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@gjmullen, not trying to be a troll or a picky a**hole, just trying to clarify what a cup and handle is. just so you know i mean no disrespect or anything like that.
a cup and handle formation is a U shape with a small descending (correction) handle that bounces into a breakout.
The U shape's two tops are either perfectly double tops with a large dip in the middle or very close to a double top. like... very close.
see link below. hope that helps. good luck out there.
goo.gl/images/hup2XD
GJMRealEstate
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@somanystreams, none taken. I searched through all those google photos too to find something that would look more like this chart... I give up. its not a technical cup and handle. been trading since 1998. still like the look of LTC as a long term up trend. just need this baby to break back over those moving averages to stock up. stochastic divergence on moving average convergence/divergence adding strength to the case for change of trend. ATB
somanystreams
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@gjmullen, yes, i personally believe litecoin is one of the best investments in the cryptosphere.
I give it by the end of the month before we see it shoot to the moon with all time highs.
but, i don't mind this bear run cause i can just pick more up now.
happy trading!
there needs to be a double top and then a handle.