The chart I have posted here is one I maintain for my own use, hence the historic comments. I like to check back after the event to see if I've been accurate, or where I went wrong, if not. Something I've taken to since I was first introduced to the black arts of entrail reading and charting by Totterdell91 some months ago.
My comment on the likely retracement options are on the chart itself and read as follows:
15 Oct comment: After today's close, expect further retracement to one of the following: 1. Retest of green mediam line at $2.01. 2. Retest of blue median line at $1.93. 3. Restest of black resistance tine (which should now provide support) at $1.845. 4. Close gap from $1.780 - $1.845.
I do not know which level of retracement we will see, although gut feeling tells me Option 4. I hope not, but in any case, as each retracement level is passed (options 1 to 4 above), we will know where the next test of support lies.
Any counter comments or differing interpretations welcomed. Many heads are certainly better than one (particularly when it's mine).
On a personal note, I have not contributed as much to this thread over the last six months as I did in the previous year. I retired from the workforce at the end of last month however - my job was interfering too much with my trading - so I should now be in a position to make further contributions when I have something worthwhile to say.
Regards, Bones
BRM Price at posting:
$2.06 Sentiment: Hold Disclosure: Held
