SUMMARY
About two weeks ago, I had posted on 1st Blood as an attractive potential for higher prices. The below chart was used to depict the Cup & Handle bullish pattern and how the handle formation, once complete, can provide the impetus for a sizable profit potential.
This is a updated close up of the pattern and the Handle has completed the a,b,c waves that could lead to a breach of the top white line. IF that breach occurs, it would be aided by the MACD which has based and about ready to curl upwards. Once the white leading and the red lagging averages cross, a buy signal would be generated. Post a breach, price is expected to impulse upwards in sets of fives.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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