ctp 3hly chart [basing pattern?] , page-20

CTP 3HLY Chart [Basing Pattern?]
1. "W" shaped Basing Pattern almost complete?
[refer black arrows, or Moving Average pattern]
2. First Support found on lower line of Down Trending Channel?
[This is a Standard Error Channel [2]
3. Second Support found on Spine [centreline] of Down Trending Channel?
4. Resistance @~7.2c, upper line of Down Trending Channel?
[Pattern Resistance @7.3c?]
5. Higher Low Support @~6.6c?
[Many traders wait for a Higher Low before committing to a trade]
6. Strong Volume returned to the Buy side?
[not shown on chart]
7. Fib. Price projections from 7.3c High / 6.2c Low:
161.8% = 7.98c, 261.8% = 9.08c

IMO [so far], this pattern has unfolded perfectly.
Cheers,
U2