ADN CHART, page-4617

ADN has broken out of a (not perfect but valid) pretty bearish H&S with a down slanting neckline on volume
and closed at the bottom of its range... This pattern might fail (just like any other technical signal) but
IMHO extreme caution is required on picking a bottom here...

This chart is an excellent example of some pretty standard Classical Chart trading guidelines, especially
for swing/position breakout traders.

• (At least partial) profits should be taken (or protected) at or near targets. Targets are rough figures...
• Buying retests when a target has already been achieved is a dangerous game.
• Searching for support levels with a microscope is a bad idea.
• When an important daily level is broken (especially on volume) forget about 5min, 15m, 1hour charts
• Do not catch falling knives...Be willing to pay higher prices, when the risk is less...
• Do not use charts as confirmation bias for your fundamental beliefs, charts and fundamentals may not

always align (especially in the short term).

• Hope is not a strategy
• If you look hard enough you can always find a reason to be short or long, you need a strategy

that you know works over time.

• Do not trust anyone's analysis (technical or fundamental) unless you really understand it yourself.

It is hard to mix different styles of trading (ie: breakouts, retracements, mean-reversion, etc). I do not know
one successful trader who constantly mixes and matches at will...
An announcement could come out tomorrow and take this back to the sky...
If you are here purely for fundamentals you should not be reading this post (or looking at charts)...
It is much easier to be either a fundamental investor or a technical trader. Mixing the two is challenging
(though not impossible) and requires real thought on how to balance the two & resolve conflicts.
Always know where your primary strength is...

ADN remains on my watchlist... No bash at fundamentals intended here.
I like what I know of the fundamentals but I know where my strength is and I hope to get a sensible
technical entry again at some point. I'm sure it will turn up again, but I haven't had a prophecy in a
while so, I'll just wait till the (measurable) risk/reward and statistics make sense.
GLTA