Hi Cabbie, thank you for taking me of ignore once again! I'm not one for changing my chart interpretations to suit a changed reality, when I get something wrong, I simply investigate where I went wrong and if needed I even publish where and why I went wrong.
In this case there is absolutely no need to do so.
If you care to go to my post from the 22.December
https://hotcopper.com.au/threads/mns-chart.3205973/page-1216?post_id=36943095you will find that it not only incorporates a later chart, showing the 25.5c low, but also the comment that based on the indicators I would expect that a bounce should be close, followed by a forward looking question regarding where it might lead to.
So far so good, SP entered into a move up and by reaching 37.5c it not only answered my earlier question, but also reached a slightly higher high! Slightly higher high, because the previous high was 37c.
Now in my charts, these SP movements are clearly visible even in the weekly charts as they are in the charts I posted. I surprised that you as an experienced chartist have trouble seeing them and further more are questioning me about them. Further more it should be clear to an experienced chartist that the weekly chart, showing the bigger picture, in this case the entire downtrend (over 2 1/2 years) would show a different channel to what is displayed in a shorter term daily chart. No smoke and mirrors here Cabbie! If you like I can turn a daily chart into a weekly chart showing all the little SP movements in their respective channels, just that it probably would look a little odd, because as you will certain;y know weekly charts compared to daily charts have different purposes. It probably doesn't come as news to you, when I suggest that while the weekly an show an overall bearish picture the daily can certainly be bullish.
On that note you will also be aware that the entirety of last week 5 daily CS are now represented by by the one weekly CS, which I identified as being a red bearish "Spinning Top" CS. Now we also both understand that this CS as such will need the be confirmed by a bearish CS next week to be valid! This I also mentioned in my previous posts!
I hope the above has cleared thing up for all the concerned chartists including yourself!
If not please feel free to take me of ignore once again and ask for further clarifications if really needed!
(20min delay)
