Radge,This is the update of your ANN request from last week. I...

Radge,

This is the update of your ANN request from last week. I have added no new lines. As you can see, ANN has had a little breakout. To imagine that no one else drew the blue fork would be to imply that price blew through it, then retraced to it, simply by random chance.

Now I am working on the premise that you would be a trader, rather than an investor. Therefore the question should be "will the blue resistance tine survive as support".

Now another traders perspective on that might be:
1. Price is above the blue line
2. Price has proven it can break upwards
3. Price got stopped in it's decline by the blue line
4. There is a statistical probability around 80% that price will travel 1 blue channel higher
5. There is an 80% probability of price reaching the black ML (based on the test/retest pattern at the black support tine)
6. Price is at a point where a trader could initiate a low risk, high reward stop loss strategy.

Now if we were to have a look at the market structure, we might notice that the blue line is pretty close to the $10 mark, and it might be a fair bet that a lot of traders would place stops just under the $10 mark. Thus it would also be probable that Gubbermint-Sachs might mount a stop run targeting that area.

If however we look a little left, we might just get the idea that they have already mounted a practice run on peoples stops down to 9.67, 5 sessions back. That might just be a good place to put a stop. I have put a few lime green bars in to show you what I think will happen up to Wednesday, maybe i am right, maybe not.

good luck and I will catch you through the next week radge.

t91