SXT 0.00% 2.2¢ stratum metals limited

SXT--technical breakout looming, page-110

  1. 2,788 Posts.
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    Plan A (sustainable breakout past 3c towards 4c and 5c) has failed.
    Plan B I have posted about. That has failed.
    Plan C is;
    World markets could continue their downtrend beyond the point of emotional resilience for holders-last level extreme stops could be hit- whatever level that is, needs to be discerned before hand, so foreknowledge is forewarned and one has a plan to follow in the thoughts, giving the mind relaxation and goals for these times.

    So looking at the charts for some extreme levels for support;
    Major support at 2.3 on the daily was gapped below due to stop loss type exits on the open.
    Gaps are very stong support resistance. 2.1c gap is now very strong resistance level.
    Using the start of the gap at 2.1c as an Fibonacci extension from the top, gives targets of 18c for 127.2% and 14c for 1.618% and 10c for the full 200%.
    15c is support resistance on the daily.
    Gap at 12c on the 30 min chart is last line of defence, before the full 200% retracement at .1c.

    All these are probable targets in a major world market downturn that could last days, weeks, months or years.
    Being a discretionary trader that dont use stops and follows my trading style of juggling stocks until I find one like this and go in hard and fast and hold for multiple returns - looking to accumulate 100% more shares at worthwhile discretionary levels, depending on changing market conditions.

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