Fair amount of forecasting in TA without a doubt. Some work reasonably well some don’t, as the name suggests this is forecasting. In this case with NAN.ASX, there is a Tentative Bullish Count from the WYCKOFF SPRING POLE which I will publish. It is active and valid and has been for a while. It stands @ $3.68. How close we may or may not get to it is s different matter of course. There are other counts, smaller as well as larger, but I will only focus on this low pole with this post.
PRICE ACTION always rules in TA, nothing else including counts or any other type of forecasting. Rest ( anything other than price) is complementary at best. In this case with NAN, PRICE ACTION is still supportive of the count which I follow and respect. If and when the respect is lost I will revisit my open position with NAN.
Disclosure : NAN is held with medium/long term view.
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