Chart, page-5020

Without dismissing your approach, that I agree generally does work if you want to watch close enough, you occasionally come across an A2M type scenario where you get 4 bags in 6 months with the share price not stopping for a breather. All at very low risk. Kind of leaves this technique dead in the water or deep under it if you were short.

Its the ones that sell out then keep posting crap to try and gain a lower re-entry point that are bothersome, even worse when they dont indicate it with their sentiment / position...