AVZ chart, page-12218

Hi mate, thanks for your post and you are very correct in what you say in that " TA is just a guide ", i like to call TA a game of probability in which you make decisions, BUY or SELL,( lets assume that FA is not in the equation ) based on many factors NOT just one.

When i made the call on the 7/1 that a short term correction could be on the cards, i noticed a number of red flags, ....

a) double top 92, with the last candle being a shooting star candle.

b) RSI 14 bending down below 70 OB line, with a decent drop to the next support line of 59

c) SP was rather high on the bollie

d) very little support in general until 61 fib support.............thats a decent drop

Now, you mentioned that my call was wrong based on the fact you saw a drop to 83 but then recovered well to form a hammer candle..........if you look at the red trendline.........what do you see ?

Clear lower highs, lower lows............would you agree that the down trend is still in play here ?



Dont get me wrong, another great week for AVZ, ( 79 - 92 ), but red arrow displays clear rejection from that point on...Red flags are the WEEKLY show....

a) SP high on the bollie

b) RSI 14 is 2 pips from equalling record high of 87.................not alot of wriggle.....



Red arrow pointing to a shooting star on the DOW, trying to eclipse previous ATH..........bearish


ABC correction still playing out with a new low which the ZIG ZAG hasnt worked out yet...........will that blue arrow pointing to a spin top doji be the pivot for sub wave 1 up ?


Whats the probability of SP movement for AVZ based on that data come Monday ?



I will let you be the judge.




Everything is IMO...............always.