the reason i said 52 50 cent range was a a key area for support...

the reason i said 52 50 cent range was a a key area for support was based on the way i chart.... and the reason i claim 75 cents is a target is based on the way i chart.

the fact 52 did not offer support nor did 50 cents means that what i was looking for in order for my method of charting to allow me to take another position did not eventuate.

because this did not eventuate i did not buy, therefore i did not loose money.

if you think just because i say this area is likely and rah rah rah and thats the be all and end all and thats what HAS to happen then your not totally understanding what charting is about.

ive mentioned this way above, charting is about finding setups you like and applying targets and stop losses in a fashion that maximizes the rewards and limits the losses.

and like i said, every one is always right and wrong... and i cannot emphasis it enough, the key for me is NOT about being right all the time its about executing my strategy with no emotion like a robot in a way that according to my charting techniques that give me what i call 'valid' targets (weather up or down, weather right or wrong) that i make sure my targets give me a risk/reward ratio of anything greater then 2:1.

therefore if you stick to your strategy and do not deviate from it and assuming your implementing a VALID and PROVEN strategy with concepts you know work and are able to be unmoved by the physiological battle that takes in your head then over time, as your losses will be on avg only half the size of your gains you are making money.

your kidding yourself if you believe someone who trades from a chart thinks their analysis is going to be right 100% of the time.

and the fact that the 50cent area did not offer support only adds to the weakness i saw in the chart from the belt hold pattern, and i was not waiting in line to buy at that support level because that would be considered trying to catch a falling knife and I personally always wait on what i consider confirmation of a move.