Replies to post #4069 on 123Tom's TA study group

[123tom]

Thanks Citrati...

I agree that 4.90 target area is starting to become visible.

What do you think of that 2 day rally pattern I described in another post. like all those previous rally bounces.

and IF we see any retests of this 5.10 low, and the targets lower,one way it could fall is very soon next week and just keep falling till it gets there. The other track I'm seeing would be a good bounce now,that climbs to the 5.70-5.90 resistance zone and then gets Hammered down from there, and that would be the 1 dollar downwave in this picture.... from wherever it begins (5.65-5.95) to (4.65-4.95) target.

but next might come the bounce needed to get into that resistance zone. Then the next short attack from there.

one or two big green candles next week could do it.

But there are other possible patterns here, I don't have the complete gospel on the road map.

[123tom]

C,you said something about that price volume bar around 4.90 area...

does it suggest to you that this 4.90 (4.88 pivots),has a support energy because of the volume bought there ? I can see its a big target on this Fibonacci chart,and I'm probably buying some if it falls there. or the 5 dollar target area.

would you be saying that it means this 4.90 target is a base like the 5.50 has been. that we shouldn't see a big plunge thru the 4.90 all the way to hit 4.70,in that way, we just saw 5.50 fall to 5.10....because this volume around 4.90 will act like a brake of sorts, for at least a bounce or two....
?????