PLS (ASX) PLS chart

Originally posted by Lies&damnlies ↑

Hi Folks

Just a quick follow-on from my last "Lies rambling" post.

I noted that I made a numbers mistake in my previous post referring to ACT3. My correction is in bold and underlined.

"ACT3 (downward extention and finale) Following ACT2 DCB we have the C-wave downward extention. Guessing again.
A-wave 5.41 - 3.90, B-wave 3.90-4.36 , C-wave extention?"

It's a lazy Sunday afternoon and as there is no footy to watch, so I am having a small punt on the horses. I am managing to pick a number of 1st and 3rd's in quinellas Close but no cigar.

About my follow-on post.

I want you as the reader to write the script for PLS for what happens next in the future charts as far as important turning points goes. So if your bored on a lazy Sunday afternoon have a go and write down the results to see how good a script writer you are as the action with PLS unfolds.

It will take you about 10 minutes if you follow the Instructions

Search for "fibonacci calculator" the select the one marked "investing.com"

There are two calculator. The first is for uptrends we are not using this one.

The second lower calculator is for Downtrend. That's the one you want. Next
Input 5.41 into the box marked "High (a)" . That's the high point on the 10 Aug that started this downward run. Then
Input 3.86 into the box marked "Low (b)" . That's the low recorded last Friday which I believe is the low for the Big A-wave down.
Hit calculate

There are two boxed your interested in.

The first is labelled Retracement ,That's the bounce (an upward retracement) that follows a downtrend.

Here's where you start writing the script about the bounce. the choices are
* Small bounce. that's the one at the bottom of the retracement box labelled 23.6% write the number down. That's already happened on Friday where it bounce from a low of 3.86 to 4.25. One day bounces are rare but not unheard of.

* Medium bounce. That's the one labelled 38.2% . Write the number down next to medium bounce.

* Big bounce. That the one labelled 50% . write the number down next to Big Bounce.

You chose. however the size of that bounce is not that important once after the bounce the SP get below 3.86 again heralding a DCB

Next your writing the Finale. How low is this bottom going to get to before your script says that it all right to start the next big uptrend.

Here your using the box labelled "Extentions" choices are
* Shallow extention. That's labeled 23.6% write the number down.

* Medium entention, Thats labelled 38.3% , write the number down

* Big extention . Thats labelled 50%, write the number down.

Then you make a choice of where the bottom is going to be.

But remember in your choices that this script needs to be approved by the players. Their two main interest in your script, firstly is how much money they can make and still end up owning the same number of shares by selling high and buying back low. Secondly are your choices of the bounce and bottom feasible.

Keep your script numbers until the end of the year and see how you go.

For those of you particularly interested you can play the same game again to see how it went down, then bounced and then to achieve a bottom of 3.86

Start again with High (a) at 5.41 and this time input into Low (b) 4.33.

Then make out your bounce choices and your bottom low choices

Then look at the chart to see how you went. But also observe what plays out.

Have fun.

cheers Lies

Expand

Mate you talking from your rear end !! Suggest you save your energy and spend some where else or on another thread.. from I can gather your matrix’s etc.. doesn’t add up

No.	Vol.	Price($)
3	325534	$2.89

No.

Vol.

Price($)

325534

$2.89

Price($)	Vol.	No.
$2.90	158813	18

Price($)

Vol.

No.

$2.90

158813

No.	Vol.	Price($)
2	3279	2.880
1	8000	2.850
1	600	2.840
3	162003	2.830
4	29560	2.820

No.

Vol.

Price($)

3279

2.880

8000

2.850

600

2.840

162003

2.830

29560

2.820

Price($)	Vol.	No.
2.900	96973	10
2.910	42271	5
2.920	98708	8
2.930	17775	3
2.940	105638	7

Price($)

Vol.

No.

2.900

96973

2.910

42271

2.920

98708

2.930

17775

2.940

105638

(20min delay)
Last $2.90		Change 0.160(5.84%)		Mkt cap ! $8.731B

Open	High	Low	Value	Volume
$2.83	$2.90	$2.80	$106.1M	37.06M

PLS chart, page-18327

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