Replies to post #53677 on Anavex Life Sciences Corp (AVXL)

[123tom]

we got a pop and drop. pop at the open to 3.75

exactly as I expected to see. This is a resistance zone being capped so far today. The "drop" held around 3.60 which has been ok so far today. I dont subscribe to some 'concepts' like "price will always fill a gap" it doesnt always. what I'm doing is watching the price action...and Reading the price action based on my understanding and experience of seeing what price does at resistance and support and Fibonacci target areas and the speed and strength of the price action.what Ive learned over 10 years of study, 10 hours a day. I dont place alot of focus on Volume. why? because we often see price plunge on 2 thousand shares and then we see 100 thousand shares Barely move it up....there is no reliability to Volume as an indicator of Where the price will go.and what target gets hit. Last night I counted the elliott waves in this little rally from 3.30 to 3.65 it looked ready to finish with one more pop. we got that pop at the open to 3.75. This 3.75 zone is Resistance.I sold some shares here. not many ,just money management. It could pop again to test 3.90 by the end of day but I wasnt feelin it so I trimmed at 3.71
this is not advice for others, ....

Some of the work you do I like . but your continual opposition /contrariness to the technical analysis I present,is a little off putting. which is too bad because many folks here follow you ...and many follow me. When you try to give people the impression that my analysis is nonsensical,it doesnt help anyone.

My charting is purely technical. mathematic and geometric. and I'm seeing that it actually works very well. some of it I cant explain. much of it I can.Most of it is the experienced skill of knowing what price action is doing, seeing it in the context of the whole chart on all time frames. it takes many years of practice to develop this complex vision. and I'm happy to help if I can. anyway, enough of that. Complex price watching like I'm doing is about much more than...noticing a "gap" or a certain candlestick. Its like seeing a forest of trees and being able to count every tree and notice how many branches are on each tree.