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TOPIC: Polymetal - cup and handle

Polymetal - cup and handle 31 May 2013 15:14 #1

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This has been in a nice down trend since january.
This has finally given a 123 low signal.
ive gone long on this and my target is the main down trend line currently at 749.
My stops is below the 2 point so a bit far away for my liking so i had to reduce my bet to allow this distance.
This is from the interesting chart section ;)



dl.dropboxusercontent.com/u/4899609/polyp31stmay.png
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Last Edit: 31 May 2013 15:14 by remo.
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Polymetal - cup and handle 10 Jan 2013 15:03 #2

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FYI if not following POLY 1121 Intraday low today prior to 13.46 RNS (re dividend exchange rate), currently 1137 odd.

If DYOR, POLY is in FTSE 100 (Russia and FSU). Always a chance of consolidation with other smaller FSU gold miners and the chance of the very large (4 times bigger) POLYUS (also Russia and FSU) merger as rumoured,further to POLYUS being prevented from joining FTSE by Putin.

1114'sh another day I guess.
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Polymetal - cup and handle 10 Jan 2013 12:11 #3

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This was a false breakout after all.
Its now approaching its main up trend line.
Im gonna go long at the trend line(1114) with a 10 point stop on a first touch basis trade.



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Polymetal - cup and handle 03 Jan 2013 10:25 #4

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This one has broken above the cup and handle breakout point so a good entry will be a back test at 1184.
stops should be below 1143.



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Polymetal - cup and handle 02 Jan 2013 20:13 #5

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Thanks guys, that makes sense. I will watch tomorrow with great interest.
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Polymetal - cup and handle 02 Jan 2013 18:43 #6

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as long as the price finishes the day above the resistance then its classed as broken through.
The best level to enter will be on a back test of the old resistance which is now support.
if on the other hand it breaks back through the following day and finishes below ,then it could be classed as a false breakout. False breakout do occur a lot so its important that on the re-test it holds. If it holds then expect higher prices to follow.

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Polymetal - cup and handle 02 Jan 2013 18:31 #7

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It's finished the day above resistance so clearly broken it and now that area should become support.
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Polymetal - cup and handle 02 Jan 2013 18:14 #8

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Ronnie, or anyone for that matter. When do you think it is safe to say that resistance has been broken ? Should the price stay over the line for 1, 2 or 3 days on the trot or what ? And by how much ?
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Polymetal - cup and handle 01 Jan 2013 09:55 #9

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I like that Ronnie ! I have been watching this one closely and made some money on its recent rise, I had not looked at it over one year, but now that I do I think you may be on to something here !

Thanks for this
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Polymetal - cup and handle 24 Dec 2012 14:36 #10

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Is there a possible cup and handle forming? one to watch?

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Last Edit: 24 Dec 2012 14:38 by ronnie.
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