Cup and handle , type this 3 words then google it found many of chart show to be cup and handle,I laugh and talk to myself why now cup and handle have became like that , did all those charts are cup and handle ? then go to investopedia
It said :
The construct of the cup itself is also important: it should be a nicely rounded formation, similar to a semi-circle.
well that is the cup and handle I know to be.
I think this is a new chart pattern if you add the uptrend to the start of the cup and handle. Looks obscene though. I think we see what we want to see. For me to use an item as the pattern mush stick to the pattern not to abuse it , when we say this creature look like a dog but it totally didn't look like a dog can we use the term look like dog? That is what i always said force to become a pattern. A cup does not necessary look like a conventional cup shape or a ball not necessary to be round tongue emoticon .
Price is the one most talked about. Volume is also something people do not talk in depth these days. Time, well its a more complicated thing. But you would have heard of it even in Wall Street articles - EW, Gann Analysis, Tick charts, these are all Time concept of the equation
Nope nothing about intelligence. The issue here is 2 folds
1. You have not see enough charts to feel where your settings of MA are.
2. There is a fixation that the price is to respect your MA setting, i.e. that is how you derive your support/resistance.
Well some people can read chart without MA just because he had been drawing his own charts for some time, you see the wonder of draw your own charts , in this world there will have no free lunch, read book or articles was just reading what people came across or the book creator copy and paste , when they interpreted the charts wrongly mean you get the massage wrong you learn the wrong knowledge.
Sure price action is the most important other tool are just a add-on, some pattern are just for easy remember of the price movement but some are just to showing the beauty of price movement can be from the artist , may I say was created by those guy who are not good at chart reading (price movement).