Menu Close

PRCT Cup Formation

QuestionsCategory: QuestionsPRCT Cup Formation
Adam Nelsson asked 2 years ago

Hello Pat, it seems I have a cup question every week, but believe my below question is different in nature compared to last week’s cup question. In the key list for tomorrow we have $PRCT at trigger price $46.7 where it formes a cup from HOD on 8/11/22. I wonder why we use the “high” cup at $46.7 as trigger price and not a lower cup at $46.13 or $45.51. I understand it is unproductive chasing small movements (and so it makes sense to wait for the high cup), but in the case of $PRCT we do see HOD volume on the last half hour prior to market close. As such, could one make the argument to focus on this positive momentum by working with the lower cup trigger prices?
Kind regards,

1 Answers
Avatar photoOwen Staff answered 2 years ago

Hi Adam,
Pat made this video for you...

Adam Nelsson replied 2 years ago

Pat/Owen, Thank you for the good answer. I should have pointed out that I saw the cup (base) formations on the 30m chart. Also relevant to find these formations based on the daily rather than 30m. Thank you again. Very helpful.