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/biz/ - Business & Finance

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6496246 No.6496246 [Reply] [Original]

I'm learning to read charts (slowly) and this one looks suspicious to me. Is this a formation of a cup and handle, halfway through the formation of the handle? Any experienced traders with an opinion?

>> No.6496295

>le everything is a cup and handle

>> No.6496340

>>6496246
No.

>> No.6496351

>>6496295
>doesn't make an attempt to read charts
>makes fun of those who try
super helpful, thanks for swinging by.

>> No.6496371

All you retards who talk about this chart or that chart. They are all derivatives of Bitcoin. kys.

>> No.6496400

Every chart looks the same newfaggot

>> No.6496464

>>6496246
No its not. Also cup and handle forms over months, weeks or at least days. Youre on 2h charts

>> No.6496486

>>6496351
he's telling you you're mistaking noise for signal.
common mistake. people learn formations and see cup and handles in everything when it;s really just noise

>> No.6496542

>>6496464
Also learnign to read charts, and this anon is correct. You can't call a cup and handle on anything less than day charts, not reliably at least

I don't know why, you'd think crypto would eb different, but it seems to be true.

>> No.6496609

>>6496464
>>6496486
>>6496542
gotcha, thanks anons

>> No.6496666

>>6496246
just look at their twitter and you can see how the spikes correspond with news/development announcements; like yesterday's spike has to do with the berkeley/zcash partnership. they were at the SF crypto conference this weekend. bittrex and airdrop date news will be out soon. staring at charts is a waste of time. buy based on understanding the value of the project.

>> No.6496747

>>6496351
first, read the definition of a cup and handle - https://www.investopedia.com/terms/c/cupandhandle.asp
do some research and understand what these patters really mean.

>"As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels;"
does it look like it's retesting old highs?

>> No.6496797

>>6496747
thank you for the help, it does not.

>> No.6496825
File: 14 KB, 251x245, pepe-birthday.jpg [View same] [iqdb] [saucenao] [google]
6496825

>>6496246
>>6496351
this thread is the definition of the party is soon to be over

>> No.6497548

>>6496246
lmao no

>> No.6497889

>>6496246
No. The cup isn't really all that smooth, Next time imagine the line going through the center of each candlestick. You didn't trace the midpoint and you didn't account for the huge spike at the end of the cup.

Also, the handle is only suppose to be 1/3 of the cup hight. what you traced, once again, ignored the center trend and also it looks like we have damn near 100% retracement.

Looks like this coin will move sideways, maybe for 3-4 peaks total, so try and notlose a lot of money trying to surf valley to peak

>> No.6497979

>>6496609
I would say with crypto, which is 24/7, you can see a cup and handle on 6-8 hour charts. Stands to reason, a normal trading day is 8 hours.

>> No.6498028

Everyone and I mean every single fuck out there in /biz/ has no clue what TA is , you started learning it only because you got into crypto last month.

Let me tell you that there is no such thing as cup and handle , the market moves in ways and I've been trading Forex for a couple of years purely on TA.

What I found out for myself is that there is no such thing as any of your imaginary patterns and other shits that you keep learning about , it's all outdated or was made to make you lose money.

The way I traded Forex and the way I apply my analysis to cryptos is through Wave Theory , the market moves in waves and you can forecast that to a pretty damn accurate degree.

DYOR on Wave Theory

>> No.6498257
File: 105 KB, 1600x995, wavesbrah.jpg [View same] [iqdb] [saucenao] [google]
6498257

>>6498028
i know, isn't it wild!

>> No.6498311

Astrology thread

>> No.6498395

>>6496542
Chaos, fractals etc. So much we don't know

>> No.6498398

>>6496295
Why does every faggot on this board insist on learning the term cup and handle and then call everything a cup and/or handle.