Hi Saylor, again the thing to note here is we still have a...

Hi Saylor, again the thing to note here is we still have a fortnight to go before that last bar completes - each of those bars represent a month which is a long time - I don't normally pan this far out and I think it might be the first at this period. Therefore if we get a positive announcement PEN may be able to change direction - BUT in saying that this chart I have posted is over the last 4years and there would have been many good and bad announcements influencing the share price - therefore please this disregard this thought.

Saylor the system I use is obviously not fail safe as any system is, but that is up to us to use our trade management ie. the use of stops etc. As know doubt you are becoming aware of some of the rules my system runs by - broadly speaking - WEAKNESS ( selling ) can be hidden in high volume UP bars and STRENGTH ( buying ) can be hidden in high volume DOWN bars and our keys for entry are to : GO SHORT - on a low volume up bar with weakness behind us at that level and to : GO LONG - on a low volume down bar with strength behind us at that level. These are only two parts to the system which have a lot of variations to them but basically we are following via our observations the strength and weakness via the volume or lack of, the spread of the individual bars and the close of each of the bars - now roll all of that together and your analysis for that bar ( whatever timeframe you are working ) is used with WHAT IS IN THE BACKGROUND, confused yet ? Sorry for starting your week off with this thought but eventually over time I think it may become clearer. lol