the strong are the patient punters, page-43

Previous chart I put up had a logarithmic scale. Seems it made a slight difference. This has a normal scale.

We now touched oblique support. Last week's was incorrect.
It didn't matter too much though because it still bounced off Fib support and was stopped by the 20EMA as I expected, and also oblique resistance.
We're still in the pennant so a big breakout is no more than 2 weeks away.

This week we finally saw a blue candle after some weeks of red. Start of a reversal? Let's see what happens next week.
The candle was an inverse hammer. Usually, this is a bullish candle when found at the bottom of a trend, but we'll need another week to confirm.

So far though, inverse hammers at the bottom have been good to ROB.
Sep 30 2011 we had one. Two weeks later we saw a long blue candle.
Nov 18 2011 we had one. Two weeks later there was another long spike up.
Dec 30 2011 we had one. The following week there was a long spike up.
Feb 10 2012 we had a hammer at the bottom and we then had 2 weeks up.

It's batting 4/4, so great risk / reward at this level. Remember, MC is only $6m at this level.
Downside is to 0.009 (Fib 88.2% of retracement), upside looks at least to 0.023 (new Fib 50% of 0.034 high to new 0.012 low).