Thanks. I've noticed the key to most cup and handle is that they form at important levels (S/R from the daily chart, round numbers, etc).
qqqball,
Yea, I had limit orders ready at those levels. I was hesitant to simply let the stock or trail my stops as oil stocks can be difficult to trade at times and have known to be somewhat erratic.
Financial markets entail risk. By reading this blog you agree that the information found here is for education purposes only. I do not advise anyone to buy or sell the securities that will be discussed here. At anytime, I may be long, short, or have no position in companies discussed on this blog.
spotting cup & handles and knowing when to get is certainly something that comes with experience. I have yet to figure it out. Nice trade.
OONR7 said... June 19, 2008 at 1:20 AM
nice trade. did you plot the exits prior to entry? the bars never closed below prior bar prior to your exit?
Anonymous said... June 19, 2008 at 4:43 PM
007,
Thanks. I've noticed the key to most cup and handle is that they form at important levels (S/R from the daily chart, round numbers, etc).
qqqball,
Yea, I had limit orders ready at those levels. I was hesitant to simply let the stock or trail my stops as oil stocks can be difficult to trade at times and have known to be somewhat erratic.
Trader M.D. said... June 19, 2008 at 4:46 PM
Post a Comment