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  #1020 (permalink)

Bala, PA, USA
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
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Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,321 received

Big Mike View Post
Chart to illustrate my beliefs:

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If support holds, we move back into the trading range towards 3300.

If support breaks, we need a retest of support to prove it is now resistance, then price moves to 2700.


Exactly my point. Stating what to me is the obvious, maybe not to others, granted. But, regardless, my question would be, if support breaks what will you do? if does not, what will you do? What will it take for you to put a trade arrow on the chart and where? Not challenging the views expressed, just asking how does this analysis transform into a trade? Of course 'None of your business' would be an acceptable answer, just as any other answer.

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