Using TA to time entries and exits

[Hoop]

@Hoop, agree regarding horizontal support though I have the weekly 38.2 fib at $2.34, same as monthly (week of Jun8 2012 low to recent high.). The 10MA is right on $2.34 as well. The SP is still below at $2.26 though does seem to be settling (below the fib resistance). Too risky for me to play with dead cats.

Yeah agree...
Air is up today, running against the Market as did the Global airlines index ($XAL) on Wall St this morning (NZ Time)..

I'm no candlestick expert, but referring back to that $XAL chart again I think I see a nice example of a dark cloud cover with its next day bearish confirmation companion signal at that 96.8 top back around 20th 21st April..AIR also descended down steeply from $2.90 during the same period via it's H&S pattern.
BaaBaa, I rechecked my weekly chart..my FIB trend line was well off the high and low points..(wonder how that happened)... yep...re-set it and it says $2.34 as you said..