chart..., page-8

Meerkat was just pointing out that support level has been breached below the trend between April - Nov (Thanks meerkat).

This means a new support level will need to form IMO which may turn the original 1.7c from support to resistance. You can have a bearish candlestick (Day 1) followed by another bearish harami, marubazu, candlestick (Day 2/3) which has happend with a bullish reversal on some instances...This week will tell..

Short term psychology further comes into play where traders who may not have taken/sold a position tend to do so when support/resistance trends have been breached.

IMO this may gap down to ~1.0-1.3c to create new support level and then harami or shooting star rebound prior to any news. Once positive news hits though with all the consolidation this will run.

For mid/LT traders yes you are looking at the bigger picture; however, it is also good to look at re-entry points to top up if your sentiment hasn't changed.