Hi twl2009
I would agree with your levels with the 123 low.
Id do the trend lines differently thou due to the price dropping back down. Id adjust the trend line to suit after the drop.
I also have the main down trend line a lot further away as i have the tops touching.(this is just the way i do it and everyone has there own way) Im not saying your wrong as every one has there own methods
Once the price drops through the trend line id look at the short term trend line
so if it goes above 5.37 then that would signal the 123 low possibly and a move possibly to the short term trend line at 6.64 as of today(this changes daily)
Look for the rsi to give you a heads up as well like a move higher.
Being a penny share technicals can be a pain so bear that in mind