yes,batermere...a perfect set up here.
a fast plunge to the next lower targets, that only a stink bid set the night before can catch at the open. Ive been debating where to place that stink bid for weeks. 5.30 area, there is a pivot point now at 5.32. there are Fib targets around 5.37. a pivot point at 5.30. there are the old pivots at 5.17/5.14 area. there is the base at 5 dollars. From here hanging around the 5.60 area looking like it might hold. there is 5.50 below. If there would be 2 more weeks of this bleeding we could suffer with, how far down can they take it.
I'm partial to that 5.30 area,but its a guess. 5.35 maybe?
I'm also looking to see that 1 dollar move , which would be something like that resistance zone around 6.20, 1 dollar down to 5.20 area. or from where do you measure that 1 dollar move. maybe from 6.49 to 5.50, maybe it will hold this 5.50. is it 6.30 to 5.30. its a guess. setting up now. maybe at tomorrows open ?or at the close? or next Monday. then again we have a few weeks of this to see the MM's set it up just right. This base of several pivot lows around 5.50/5.55/5.60 looks like it is holding, which would make it very significant IF it breaks down and we see price fall below 5.50 that could by itself trigger a cascade that becomes the falling knife I'm looking for to buy. so maybe we wont see it happen until that moment comes when price falls just below 5.50
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so looking at the rally that went from 4 dollars to 6.64,a surge way ahead of the conferences,that hits 6.64 and immediately got slammed back down. would we see a repeat of that pattern next week? ahead of the rhetts news? would we see a big surge and then an immediate plunge back down? is that the kind of game we have to deal with here. what will this kind of rally surge mean, other than a chance for nimble traders to take profit fast at the peak and watch it get hammered back down again. I can do that if that's what this game is about for traders. I hate doing it but it can be done.
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In the current pattern Ive been looking to find the next 1 dollar movement. but if we get a big rally, might need to find the 2 dollar moves. like from 5.50 to 7.50, and then collapse back to 5.50 again. wouldn't that be so AVXL-like.
I'm glad I'm just doing this with a small amount of trading shares, and I leave the core alone.
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