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Post# of 47295
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lowtrade

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lowtrade

Re: SuperSquirrel post# 40031

Thursday, 01/30/2014 1:59:51 PM

Thursday, January 30, 2014 1:59:51 PM

Post# of 47295
There are all kinds of ways to locate support/resistance. Moving averages, price points being revisited several times, new price highs/lows, ETC.

IMO once a strong move happens, I feel the most important is the FIBs retracement lines. Each line broken on the way down becomes resistance on the way up. If the price needs to break 3 resistance lines, from below 61%, the odds for success decreases 3 times. As the price needed to cross 3 resistance points before it ever reaches top resistance.

Welcome to my mind!

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