good post about trading methods.
I try to do exactly that. its a lot of work. I watched someone do that way back when as well.
I'm relying mostly on Fibonacci math and Elliott wave patterns to craft my 'road map' for technical trading. Its been pretty good so far. not perfect for sure, but helpful.
AVXL has been Bottom developing for a long time. All the support 'bottoms' way up at 4 dollars and 3.80 and 3.30 and 3 dollars, then 2.75 and 2.45 did not hold. but maybe the 1.85/2 dollar Bottom zone will be the one they intended to target and we will see recovery now.
Its been a long road from the 6.50 peak down to the 2 dollar target zone.
The various "support" levels for the Upwave pattern started at 5.50-5 dollars and then became critical to hold at 4.50.
Then as the downwave continued by Failing at 4.50 ,That became,in my view, the peak that changed the wave pattern from a Major Upwave to a Major Downwave,culminating in todays current Bottom. coinciding with the PR release.
Seems now, IF this 2 dollar Bottom gets confirmed ,we ought to see the double as a target zone (3.70-4.00 area) in the middle at 3 dollars as a retrace support zone,when the time comes.
More road maps will start to take shape as the pattern develops from here.
