Loading ...Re Saucer bottoms/Cup & Handles
I checked how to measure them and found this explanation….basically they have two methods…if there is a Cup and Handle you can use a similar method to a flag, measure the distance from base to top of handle then swing that up from base area of cup…second is to measure the base of saucer to the Lip and add that to the Lip…..In Silvers case we get a target in the 90’s
All that said….another form of charting Point and Figure ….measures upside targets based off the size of the base, horizontally, which you then project up, once break out occurs ….which considering that the base is where the power comes from…ie lots of time trapped going nowhere and then the mkt breaks out, with explosive power etc…makes far more sense …..Unfortunately because you need every trade price intraday to accurately draw them, no system has that data going back decades, ie into the 60’s/70’s….But if you did then one can imagine the bases pattern in Silver is monstrous…..which is why prices well into the $ 100’s ….even $ 500 make sense
That said this simple P&F chart shows that we are now at huge resistance….can we break the $ 48 box…this time or do we spend some time in this area….first…..or do we fail !!!!…not if this is really about revaluing. the $ 48 box goes