I'm not trying to be mean but that chart has some very poor decision making when it came to decide what to draw on it. Its like there was a vague idea that tops and bottoms are important resistance and support so lets draw useless circles around them but then when it came time to draw support and resistance lines for a channel the idea that those lines should be drawn connecting as many support or resistance points as practical was forgotten or not known and instead the lines where drawn with just one or 2 intersections. The bigger issue is the zoom level of the chart. In my opinion it is a bad idea to draw a trend line the size of the chart because you can always connect 2 points at the start and end of the data set you zoom in on. I would zoom out at least a little if possible if only to show a bit before the structure you are drawing. Or is it intentionally trying to suggest this is a pattern that has existed forever?
PEN Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
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