FFG Charting Thread 2024

My mentor has taught me a 7 step framework around pennystocks but since we are all students of the financial markets this FRAMEWORK is applicable to every market cycle we see.

We have all seen the Market Cycle. It's essentially the 7 step framework and is incredibly applicable to my realm of pennystock trading.

This former Supernova has my respect for the ability to run, but will always be a piece of dung in the proverbial sense. Akin to 95% of all tradeable instruments IMO thats in the Spec Land



Out of strong respect for a fellow friend I have deliberately held back in posting my charting which was made EARLY HOURS of Monday 12th Feb ie 2am or so. I did this for 2 reasons.

1: So he can lock in some significant gains
2: So I can SHORTSELL the stock

CHEEKY CHARM ANALYST DOWNGRADE - TARGETS OF 2c POTENTIALLY LOWER IF 200 EMA BREAKS DOWN
SENTIMENT: SELL
POSITION: NOT HELD

The chart depicts the analysis highly accurately and is a textbook technical analysis lesson if I don't midn saying so and I hope it serves as a great reference point of study for those who whish to do so. As it's already done what I suspect, there is more to come in due time, this will reach the 200 EMA levels and retest 2c I think

Albeit to say, we are both kicking ourselves because;

He's not locked in the profits
AND
I have not been able to locate borrows from the Prime Broker, which I called Monday morning to allocate with much regret and failure

Price Action & Trend always trumps. This is what throws the psychology off but we must remain disciplined.

P.S I do suspect tomorrow or so this FFG may spike 1 to 3 pips BUT risk reward is not one for me to try and trade when the biugger picture is 2c as support as I know 2.5c will be hit, games played with, small spike and then redumped below.

Just the nature of the 7 step framework GLTAHz