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SE ND | Yeah those sellers keep pressing it down there and price comes back and washes them often then goes on to squeak out new lows. I see where you're getting an 1.500ish reaction, but could it be that price dances before getting there? Maybe retest the broken LML on a pullback first?
YoungGun, won't really throw any targets out there, but what the chart shows is that price is still in the downtrend with the sellers at 2.50 confirming with the recent new lows. Price broke the LML (bottom line of the fork). What that tells us is that for as far as price moved above the pivot (action), price will go atleast that far in the opposite direction (reaction). So, the lowest dotted line is where (with a high probability) price reach and possibly exceed. Clear as mud? | |
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ng trade
