Replies to post #280795 on Anavex Life Sciences Corp (AVXL)

[123tom]

Thanks,Mike...


Its just a matter of examining the Fibonacci math patterns and Elliott wave patterns, combined together, I found it really creates a visible road map to follow along with, and see how closely it stays on track.
When you craft this picture with these tools, it shows you several key points along the way that act as markers and clues that help to develop a feel for the price action.
People who watch the volume get a clue feeling from that. same idea.

What time is the conference tomorrow?

[123tom]

heres the 5 minute chart


IF we would see a sell off tomorrow from the open (or whenever the 'sell trigger hits')... with 7.60 as a peak,(the current math ) this could be a possible math pattern, to watch for. first drop to test 7.20 area. then resistance at 7.40 takes it down to 6.80 area then 7.00-7.20 resistance takes it to 6.55 area as a math target. It represents a 1 dollar sell off. and the best bargain targets now...Yikes, 6.20 area?? who would think 6 dollars is a good bargain now, but this is what the picture is currently looking like now.
Thats why I like buying the Bottoms, instead of the top side breakouts. but nobody can say they didnt have a great chance to get in at 2.25 and 2.65,3.00 and 3.65, we had So many months to buy the bottom zone.

The time to buy was the 2.25 bottoms
Now bargains look like 6.25
Tomorrow should be very interesting to watch. We could see continued jump to 8.25. who knows.
and in the bigger picture, its unclear at the moment how high this rally cycle will go. It could run to 10 and 11 dollars before it finishes, and then the new calculations begin from There. Very different that what current calculations would look like from this 7.75 target zone. So I have to watch and wait to see this finish . but for now,IF we see this target zone 7.75 as a finish ,because we soon see a big sell off, that sell off has to be examined as a wave pattern, and the target zone I'm currently watching for would be the 6.60-6.20 area.