w1 chart update, page-11

Mike

Sorry, I get a bit lazy... I tend to look at candlestick charts with 1 day or 1 week candles. When I talk about marks or limits I tend to talk about daily (or weekly) close prices. So it is in this case. You'll note that the daily close from Fri is exactly on my trendline. Having the lowest point of the day below the daily close is actually a good sign if you are hoping for the price to bounce on the line. This weekend therefore I'm still right in my opinion and I hope that the price will indeed bounce on Monday and that Fridays low will become a reversal point. If, on the other hand, the daily close on Monday is below the line then I've been wrong. Hope that makes sense and that I do not come across as 'ad-hoccing' my own analyses. Cheers

Hans