123Tom's TA study group

[123tom]

The AVXL geometric road map...


for what its worth, to see the road map architecture. points that connect,like the 4 dollar point, among others. Fibonacci targets, Fib arcs,that shape the steps along the tracks that price could follow.
geometric road map

Its just a geometric road map of sorts to look at.
mixed within it are the key moving averages.and the Fib retrace levels.

In the previous rally (to 5.15) the "pullback" zone was looking like holding at 3.80/3.87/4.00 area. Now, that price zone is a key resistance target area.
Just as it Failed last time at 3.80, then failed at 3.70,it becomes the danger zone again, for the next bounce,if we get a good bounce from here.
What I'm looking for in any good bounce, is it needs actually to make 2 good bounces,not just one. the first good bounce needs to retest the 3.80 area,then a pullback needs to hold support at the 3.50 area, the key 200ma... Then the 2nd good bounce needs to follow thru to target 4 dollars and higher (4.00-4.25 area). That would constitute a "Good bounce" reaching 4 dollars, holding 3.50, and climbing to try to reach the higher targets above 4.20 (4.40-4.85 area. ).
Right now, we haven't yet seen the first good bounce to retest 3.85. 3.70 was weak in the larger picture if it becomes the only 'bounce' in this downward pattern. IF we have a bottom at 3 dollars, followed by a first bounce to 3.70, we need another rally bounce now to target 4 dollars.
Right now, the bias is looking downward as price has pulled back to 3.20. showing a bleed to a lower target,when 3.30 was the more bullish retrace zone. 3.35/3.40. all failed to hold last week. the target bottom at 3 dollars is looking more magnetic these days, than does 4 dollars. That needs to change soon, with a good rally bounce this week. Will we see it happen?
For a bullish bounce to happen now, what would trigger such buying that it rallies 80 cents from here?