the wall, page-220

Alex. More than happy to reply to any query that is put as long as it's polite and not just time wasting. I find your post to be one & not the other. So I'll try and answer your post as best I can.

First you need to take into consideration that my posts & analysis are not aimed at long term holders, as they already have a position. My posts are aimed at giving an analysis so that a decent position can be taken on confirmation of a move from the charts. The move in this instance was a Pennant. That Pennant at time of posting was valid. Many times on a pennant or a longer forming triangle you can see false breaks. Hence my call on the 20th. Keep in mind that at all times I have said we need confirmation. That confirmation voiding the call arrived on the 22nd. So at present the lower pennant line is voided. But the Pennant isn’t voided due to 0.037 holding. If you see my post in reply to Bassy. I stated that 0.036 - 0.037 needed to hold or this would drop further, perhaps even far enough on no release of a positive announcement to fill that gap. So far 0.037 is holding. So it gives us a second set of criteria and confirmation to work with.

That second set of criteria and confirmation now follows the chart below. That chart can also be voided if the confirmation is not received. I suppose if for someone that’s 200 years old and uses a colostomy bag it is confusing. But in all honesty it’s not confusing at all. If you’re a short term trader and looking to take a position in a promising security. The entire position is based on confirmation to increase the likelihood of taking profit as opposed to taking a loss. So the new confirmation is 0.036 – 0.037 holding. As previously pointed out I can trade this also at present as it should range between the two pennant lines. I personally would wait for the confirmation of the top pennant line breaking before I took a position. As similar to the bottom pennant line and as I have pointed out numerous times watch for false southern and northern breaks. I can’t stress enough the importance of confirmation. So anyone that took a position on the expectation of the top pennant line breaking, goes against 3 months of what I have been posting.

Contrary to what a few of you may believe I am still bullish with this stock. But at present it is not offering me enough confirmation to take a short term position. When it does I will take a position as I have done previously. If it doesn’t. I will reevaluate my calculations and see if the charts offer me a possible strategy to aim for. On receiving no possible strategy I would void this security, stop being interested. And move on.

Alex. Please feel free to ask me further if that doesn’t clarify things for you or if I haven’t provided an adequate enough answer.


PS. Pro hasn't updated so today's candle not visible.