Charles Payne recently said his favorite pattern is a Cup & Handle pattern. His guest agreed.
I use a chart like this to get the big picture. I want to emphasize several things.
1.Cup 1 is huge. It said, "Here is a foundation for building upon." You can see how it has fulfilled that bold statement and how strongly it has held fast.
2.Cups 2 & 3 are upside down, cup 3 higher than cup 2. These two cups are saying, "Things are going higher."
3.Cup 4, which is still forming, is saying, "Look here. We are building a new dance stage similar to Cup 1's dance stage and a whole lot of partying is going to happen when it is completed."
4.This is the most important takeaway for you. One Thousand ninety-three points separate the rims of cup 1 and cup 4. With the trading plans I have detailed in prior posts I have traded that 1,093 points many times over and so can you.
From 9/2 - 10/20 using these plans I grew my account by 44.7%. I'm not at all saying look how great I am. I am saying look what you can do.
Finding a trading plan that works is vital to success. It took me years and thousands and thousands of demo trades and live trades trying to replicate the trade ideas of others that I got from many and varied sources. The results were ever so disappointing.
One day I said, "Sidgate, you are a fellow of Common Sense. I challenge you to create a trading plan that works."
I took him up on that challenge and I share those results with you.
What's the catch? There has to be a hook here somewhere...
As corny as it may sound - it is indeed more blessed to give than to receive. I have found that as I have shared these plans and charts with you my trading results have improved. I don't think that would have happened had I not spent so many hours examining every little detail of my charts and trading plans in order to clearly communicate them to you.
I know I've made typos and simple math errors along the way. When I go back and see them, I cringe. Hopefully, you can learn despite those cringeworthy events.
Again, this is a 40,000-foot view. A very important view. For all entries and exits I use a 5-minute chart and 5-minute cups & handles. The 5-minute chart sure can get busy. I am very thankful Trading View gives us the option to hide drawings.
Just a little aside - today's low, the place where it bounced, was almost exactly on one of the handles of a 5-minute cup.
I am still a work in progress...
I use a chart like this to get the big picture. I want to emphasize several things.
1.Cup 1 is huge. It said, "Here is a foundation for building upon." You can see how it has fulfilled that bold statement and how strongly it has held fast.
2.Cups 2 & 3 are upside down, cup 3 higher than cup 2. These two cups are saying, "Things are going higher."
3.Cup 4, which is still forming, is saying, "Look here. We are building a new dance stage similar to Cup 1's dance stage and a whole lot of partying is going to happen when it is completed."
4.This is the most important takeaway for you. One Thousand ninety-three points separate the rims of cup 1 and cup 4. With the trading plans I have detailed in prior posts I have traded that 1,093 points many times over and so can you.
From 9/2 - 10/20 using these plans I grew my account by 44.7%. I'm not at all saying look how great I am. I am saying look what you can do.
Finding a trading plan that works is vital to success. It took me years and thousands and thousands of demo trades and live trades trying to replicate the trade ideas of others that I got from many and varied sources. The results were ever so disappointing.
One day I said, "Sidgate, you are a fellow of Common Sense. I challenge you to create a trading plan that works."
I took him up on that challenge and I share those results with you.
What's the catch? There has to be a hook here somewhere...
As corny as it may sound - it is indeed more blessed to give than to receive. I have found that as I have shared these plans and charts with you my trading results have improved. I don't think that would have happened had I not spent so many hours examining every little detail of my charts and trading plans in order to clearly communicate them to you.
I know I've made typos and simple math errors along the way. When I go back and see them, I cringe. Hopefully, you can learn despite those cringeworthy events.
Again, this is a 40,000-foot view. A very important view. For all entries and exits I use a 5-minute chart and 5-minute cups & handles. The 5-minute chart sure can get busy. I am very thankful Trading View gives us the option to hide drawings.
Just a little aside - today's low, the place where it bounced, was almost exactly on one of the handles of a 5-minute cup.
I am still a work in progress...
Note
Isn't it awesome how a prior day's close (the dashed gray line) acts as a strong Support/Resistance? I carefully note this, especially for my Buy the Dip Trades. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.