Well, someone did mentioned and posted about TH Heavy, aka as Ramunia before today. That it is actually a cup and handle pattern, as seen from the simple drawing above. If it is so, then it would be a good chance that high likely the price will be moving upwards then. What do you think?
And finally today, there have been some announcement made to regularize its pn17 status, as well as the rights issues, which is priced at 40 cts, for a ratio of 2 rights shares: 5 existing shares.
Below are the details which i have captured from Bursa's website.
cup and handle is a bullish reversal pattern, and technically, it needs 1-2 months to form. Strictly speaking, the pattern doesn't match the definition of cup and handle.
ReplyDeleteYou can see that triple bottom happened to THHEAVY with a high volume breakout on 25 Apr. This is a more solid pattern.
Thank you so much for the cup n handle pattern info. I'll note that down in my notes.
ReplyDeleteYes, i noted the triple bottom pattern as well. :-)
Thanks a lot Mr Chong.
I have a question :
ReplyDeleteLike you say CUP & Handle pattern takes 1-2 months to form, are you referring to the whole pattern or the handle alone? Because i'm now looking at the chart itself, from the curve that i started drawing to the end of the other curve that forms a cup (excluding the handle), dated : 5th April until 22 June 2012 (approx 2 months plus).
So, is it applicable since if it takes 1 - 2 months for this pattern to form?
Agree with lcchong.
ReplyDeleteIn strict definition of cup and handle, it will not qualify.
Reason - strict definition can be explained this way
1. There is a rounding bottom.
2. Upon reaching resistance, the pattern forms a smaller rounding bottom.
Hence become Cup (1st Rounding Bottom) and Handle (2nd smaller rounding bottom)
This pattern look more like
1. Triple bottom
2. Potential Dragon Formation with the triple bottoms as legs, its reactionary highs as its body. The previous downtrend as its tail. Currently formed the head. Breakout of 45c, the dragon will fly :P
Max, thank you so much for the explanation.
ReplyDeleteI have one request, is it possible to show me its chart of dragon formation? I would like to see how it is like in TH Heavy chart, from where to where and what is the time frame that u r using for this Dragon Formation?
This is the first time i heard of it and i'm interested in viewing it. Is it possible to do this favor for me from your side?
Thank you so much...... :-) I hope you could.. :-)
Hmm... you ask until like that, how to say no? :P
ReplyDeleteOK, refer to chart drawn for THHeavy
http://www.freeimagehosting.net/iijma
Also, refer to Trading Naked 's resources. This site contains many systems, articles etc. Good if you want to know more of the different branches of TA but careful not to rojak the whole thing up.
http://www.trading-naked.com/JerrysDragonPattern.htm
He he he, finally i see you around again.
ReplyDeleteIt is like i have been missing you for quite some time though. Wonder where have you been to? LOL.
Yay! Thank you so muchie for the Dragon Formation chart!
Whoa, i have kinda glimpse through the chart, at first it does looks like a Dragon to me, but after looking at it long enough, my brain kinda got confused. And i started thinking, how difficult it is to notice a Dragon from the chart....... It wouldn't be that easy, isn't it?
Fuh.. I feel that i kinda have limited knowledge in TA already by now. I wish to explore further and make use of the rest of whatsoever patterns there are out there, however it is kinda tough to be learning it all by myself online.
Fuh.......
And MAX! I like your charting le. It looks so neat and clean.
ReplyDeleteBut i noticed something there, accordingly to Jerry's Dragon Pattern - For the HEAD : Low should be way above top of BACK, and i compare it with your image of the Dragon, the LOW is the same level as the BACK, so can this be considered still as a Dragon Formation? Actually, in TA, i wonder, if we have to follow exactly, or just around there will do already? And today the price of TH Heavy went down even lower to 0.39 if i'm not mistaken. It has actually broken below the 0.40 support level already these two days.
Even with the rights issue been announced. It doesn't look too good though.
Well, I m around though lately bit busy and will soon be busier than usual due to attempts to expand my business ventures. OKla, actually, I stay around your area and know you. LOLz... this sure sound creepy!
ReplyDeleteAnyway, if you free, then come out bakuteh during Sundays, I can arrange for you to meet with the Stage Analysis sifu. He ll be able to guide you more on Stage Analysis.
A good chart should be nice and clean, yet still able to give the information necessary to the user to execute trading positions in an instant.
Can it still be considered a dragon? Well, note the chart I posted - upon breakout :P
Same thing with other patterns - is it ascending triangle? Upon breakout then we know.
Is it Triple Bottom? Upon breakout we know. LOLz
Is best not to be so rigid in TA. Say, we do sales. Can we always use ONE METHOD and sell to everyone? The answer will be no. Some selling methods will work well on certain people but not to others.
Such is the concept of life and also applicable in trading.
By the way, my email: theforce2006@hotmail.com if you need to contact me directly.
Eh, Max.. really scary.. i didn't know someone who knew me who is into trading as well..
ReplyDelete*swallow saliva*
u r making my mind working again now, thinking whom could it be ....???
i will definitely contact u.. ha ha.. mr mysterious!
LOLz.
ReplyDeleteLet's make it creepier then!
I know you but you dont know me.
Wakakakaka!
That's so weird. You know me but i do not know you, even worst man!
ReplyDeleteBtw, i have added you on msn.
Can chat there, waiting for your approval.
LOLz... purposely make it worse! Haha
ReplyDeleteOKla, dun main liaw...
Added you in msn as well. Though I seldom sign in, perhaps later if i find time, i will log in. Speak soon.