fib ratio, page-24

P2W a lot of people are losing money on this stock and nerves can get a bit freyed, I appretiate that. Belittling other peoples strategies doesn't really make your own any better. You don't know what you don't know about charting so I'll explain how how it can be used as a guide (not a crystal ball)

The run up to 82c completed two repeating ranges of 40c from previous share price action. The first range offered a target of ~45c and was completed in July. The second repeating range indicated a target of ~80c and was completed in September. Indicators showed the price was losing momentum at this peak. The price pulled back to 58c after this and broke the uptrend. The third range up from here offered a target of ~98c if it completed, as we know it didn't and the SP put in a lower high confirming the uptrend was broken and setting up the decending triangle pattern mention above which indicated a retrace to ~35c if it played out. This is when Orgone posted charts showing the trend had failed. We didn't need to know the anouncement was delayed as the chart showed a bad event.

On the down trend the repeating range down has been 20c with a retrace after each leg down. This has played out 3 times. The last one was the 39c low on 1/12/09. The next range down has a target of 29c if it plays out which will bring us to support from January 2009. The falling momentum in the indicators appears to be slowing but the move up this week has been weak and on falling volume. So I don't know if it will hold and SP needs to confirm the bottom.

This is just how I use charting to provide a target to aim for and place a stop if it doesn't play out. We are all responsible for pulling the trigger on our buy and sell, nobody else. As I said I don't know if this is the bottom,I just draw lines on charts, it needs to confirm and yes I have lost money on this one :-))

Cheers
Rhodes