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Re: Chrion post# 59778

Tuesday, 04/10/2012 10:17:09 PM

Tuesday, April 10, 2012 10:17:09 PM

Post# of 129051
To all:
price action was pretty good for support today, at a key area now and it's finding the support we'd expect.

To all the newbies out there; the chart did NOT fail yet. So far if anything today's action confirms support at the major trendline, fib levels and cup and handle formation. It's all within the mathmatical expectations.

Someone asked me in PM how long it takes a handle to break out. Usually it's 10-20% the duration of the cup and not more then 25%. That should put it in the 2-5 day range if I'm not mistaken.

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