That's a good question BR...
I'm examining that question these days as I go... The tools I use ,and the picture its showing me,showing me some things that are really precise at times, and then at other times I'm seeing a different track takes over...its like trying to watch 10 different race cars at the Daytona 500...
Complex pictures that become more complex as they blend and twist together and then pull apart... this is hard to describe.I can see the different tracks that the patterns flow along....then they start blending,like the way a wave 3 becomes a wave 4, and then that wave 4, morphs down into a wave 2, ...changes the pattern...
How to make sense of it...its tricky...I have an ongoing observation that I'm watching these days,and about the only manageable picture to observe is the overhead resistance (5.60-6.10) and the Support targets at and below 5 dollars.
The easiest way to begin to see the picture and targets,is to use the Fibonacci tools, use Ichimoku cloud, use the key moving averages,pivot points, and then in the picture see if Elliott wave patterns can be counted. That's enough stuff right there to make a seasoned chartist work hard .
Sometimes, the chart pattern is not as complex as AVXL is now, and sometimes AVXL has patterns that are easy to read, but these days, its been very complex. at least the way I'm doing it....
What I can say that could be useful for others looking at my charts... is to just see what the next battle zones are, the resistance overhead,and the support targets below for a pullback. the Fibonacci targets,the pivot point targets, and always anticipating the wall street manipulation lurking at the next major resistance zone...like the one at 6.65 (shoulder zone)
I think the 5 dollar base will start being more important now....This latest smash down showed the wall street players still have the ability to do it. I need to eventually see signs that they cant bring it down to 4 dollars. that 3 dollars is way far gone....and some day the 5 dollar base will be the bargain zone. It might be the bargain zone now, but it might need some testing for a while longer.
Its nice to be able to see a larger pattern that offers good clues for a long time frame,months ahead,like to be able to see how a rally will climb to target 8 dollars.... that could start happening in the next rally, when we get that rally, it could reach that target in a blast of 1 or 2 weeks or it could chug along for 3 months to get there. hard to forcast the speed in the next rally. hard to see that far ahead.
I think in technical terms, the latest plunge from 6.64 to 4.95 that happened in 3 days,"should have" taken 2 weeks to arrive there in early March,on the technical chart. and so now, there is all this loop of time to play catch up. a bounce now for a week,a failure at resistance for a week, and another drop back to test 5 dollars again for a week. is what I'm currently looking for. Would the timing target day be March 17 time frame? (the next options date?)
AI
