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Strategies & Market Trends : Lizard King's Trading Swamp
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To: GERI EASTER who wrote (4270)2/2/1998 10:59:00 PM
From: TATRADER  Read Replies (3) of 7396
 
Here are some words from TA man Danny on Cup and Handle:
) The left side of the cup is constructed during a steep sell-off on large volume(usually after a short term top with distribution), followed by;
2) Saucer bottom, on contracting volume with little interest being shown. Side note here; i want to see the bottoming process take from between 1 to 3 mos.
3) Upside breakout from saucer bottom on expanding volume constructs the right side of the cup. It should appear somewhat steep and should come close (though not exactly) to the top on the left side of the cup. At this point, we have an overall pattern that looks ominously like a double top. The key to this pattern is the volume during the "handle" phase.
4) The handle is nothing more than a "continuation pattern", much like a pennant,except for the greed and fear psychology.
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