Hi Lorenzo,
And ... well done Xavier! You have to think in terms of "point of recoverability" which is defined by the RECOVERY WINDOW value. Through the point of recoverability you can specify that *AT LEAST* you want to be able and recover the cluster situation back to that point. It is the minimum horizon for your recovery operations.
The maximum point of recoverability you can reach is the end of the base backup prior to the recoverability point (assuming all the stream of WAL files is correctly archived - which should be the normal case).
I hope this makes it clearer. Moreover, it is probably worth reading:
Thanks for asking and thanks Xavier for responding to Lorenzo (and for your nice words too)!
Ciao,
Gabriele