@Buntyy this chart has served me well as I exited on 11/10 on signs of weakness which was contrary what it was signalling the day before with rising volume and following the support line higher. On the 11/10 I exited in the first 10 minutes after the sp found a ceiling at the EMA50 with no follow through urgency but instead a 5 minute pause. It wasn't playing out as it should of been. And sp consequently re-entered the downtrend... and I posted a chart once once I was certain their was no bounce likely.
Exit based on the chart would of been a break of the support line at 20¢. Been following the market depth avidly day in day out and the rhythm had changed so I exited with a profit with intention to re-enter if the EMA50 was breached.
Right now the sp is more or less at the channel support zone... some will be seeing this as a good place to re-enter and surf the channel higher tomorrow... and it may happen.
But what I dont like in this instance is that the sp went below a cleary confirmed support line rather than bouncing to close above in a doji candle with a long lower wick on increased a capitulation volume..
The other thing is that the announcement didnt have the detail I expected after a weekend trading pause,, and why was.nt the delay announced earlier and now suspect it was known on the day the sp re-entered the downtrend 11/10. This is just pure speculation on my part.
I'm still following this very closely for any positive results ... though would be much more hopeful if at least were above the last 2 capital raise levels 20¢ and 23¢.... but the markets are edgy and unforgiving at the moment.
Anything can happen
