We are now into a new box 7 and pushing to get into another higher one again. Both predictable and shown as I have previously posted.
I am in two minds today as to which direction we are going to go short term.
I have been posting PSY charts showing price range boxes since Feb testing this theory & making predictions along the way and I think they have worked very well indeed.
What I have seen consistently 100% of the time in fact during that time is that after each box has been breached & a new one begun the sp has always recovered & retested the breakout point.
The targets indicated by the box range also always found support in the middle.
Once that middle support / resistance area of the box was breached, that level was retested also 100% of the time.
The difference in the last 9 months though is that we have been in a down trend.
I have no doubts that my boxes will work going up so what I am saying is that despite what my heart is telling me my head is saying that the sp should come off at least to the middle of this new box 7 in the near future. In both the Daily & weekly charts that point is $0.20.
I actually placed a buy order this morning at $0.21 but pulled it after the sp hit $0.21 and I updated the chart.
I hope I am wrong & we get an announcement today or tomorrow & the sp takes off like it did yesterday but after 9 months studying my range boxes I really have to stick to what it is telling me even if it is wrong this time.
And it is telling me that it will at least retest the midpoint of box 7 and in theory it should retest $0.165 - $0.17.
I hope I am wrong. I dont care if I have to pay more later but I will put my order in down there I think.
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