TA - Chart MYX, page-152

Apologies in advance for all the lines and clutter on my chart below, but I was looking at a few things others might see. I don't use Fib retracements or extensions for example, but I'll have a look at them anyway- and some other indicators, to get a feel for what kind of entry points and levels others may be looking at and reacting to. After all, if I see a great big obvious short entry signal I hardly want to be buying right then when there's a good chance there's about to be a whole lot more supply hitting the market. And the opposite is true- when most of the indicators are showing oversold and hitting the bottom of the Bollinger Bands, and right near a previous support level, then it's not an ideal time for a short entry, and you can see the volume start to dry up and then it's a matter of waiting for a long entry signal...just like what is happening right now.

So for a bit of fun I've highlighted a whole cluster of levels that people might be lying in wait for a long entry or short cover. Nothings guaranteed of course, but already we've seen how the micro-gap acted as a magnet and everyone could see it and how close it was. But many will see the next key support below a little bit differently, but almost all somewhere between 0.50 and 0.53. So where might this buying kick in strong enough to stop and reverse the price? How would I know?- it's not a crystal ball I'm driving here!

But I'm going to have a guess anyway. I think 0.53 is the next strongest support below and price will poke it's nose below to 0.525 and then spring back up through the micro-gap (or where the micro-gap was). Well that's if it drops at all- it could very well start another rise from precisely where it sits at the moment. Any other theories?

Good luck all...