Happy to explain. The distance from the bottom of the saucer at...

Happy to explain.

The distance from the bottom of the saucer at 0.008c on 01/11 to what I thought may be the top at 3.0c is projected upwards from the 3.0c level by the percentages shown in brown (red). The percentages are based on Fibonacci numbers. The identification of the pattern and the determination of the breakout level is somewhat subjective hence my projected first target was between 4c and 5c. I also look for Close levels that occur on greater than average volume, usually greater than 2 standard deviations above a 15 period MA of the volume. These are the horizontal dotted green lines on the chart, I call them anchor zones. and these levels can identify significant areas of support and resistance. When the Fib levels line up nicely with the Anchor Zones I feel much more confident about the Fib numbers.

With small cap speculative stocks all these levels can be blown away on any significant news. I use this price projection analysis, along with my estimate of the short term support level, which I use to set my protective stop, to then calculate the Reward/Risk ratio of the trade. The trades with the greatest R/R ratio are the ones I take.

Hope this helps. Safe trading everyone.