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boogaloo

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boogaloo

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Thursday, 11/11/2010 3:08:26 PM

Thursday, November 11, 2010 3:08:26 PM

Post# of 47295
lowtrade, General question. When evaluating a chart for a stock which is ranging... how many bounces off the same price/support level do you think is acceptable before you start viewing it as high risk and that it may break below?

I know it can break below any time, and we should enter after the bounce is confirmed, but I'm wondering if you have a general rule? After 3 bounces off the same price, over X amount of weeks or months, do you think the risk increases that support won't hold? Or does it gain strength as a support level the more touches it's experienced?

All Posts Are Just My Opinion

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