The reason 70% chance was mentioned = that is what it looked like. If we were looking at an ASX stock, with the same pattern, then the post would have read. Looks like a 90% chance this pile of crap is going to fall hard... as one can't expect much from an ASX stock.
You would be hard pushed to find anyone looking at a Chart and saying 100% chance.
The only time I posted in that manner was back in 2009, when the forum was very bearish on CBA, I stated I knew exactly what it was going to do, scream to the upside... that's exactly what it did.
It looks like we could be at the start of building a large Descending Wedge, if this is the case, and price gets to the pointy section of the wedge, then the Post will read... looks like a 95% chance of violent upside in the range of 3,500 within 1 day.
So, time will tell if we are going to see that pattern form...
Go to www.ataa.asn.au go to one of the meetings, chat to some of the Folks there... they will explain further.
Regards,
