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this time the 1072 area didn't hold and we had a nice move down. and of course I missed it. now this level becomes major resistance.
I'm a little confused. there's a saying don't trade against the trend. I changed that to don't trade against gio5959. So there's a good chance I'm wrong, but for me the bias changed to negative if we stay below 1072. target low 50's.
we all have opinions and my opinion, according to a gann swing chart, is that we are in a state of 'wait' to confirm a downtrend - albeit, bulls are getting nervous
this chart depicts a simple way of looking at trends - a 10 simple ma and a 30 ema - price is caught in the middle (congestion-indecision) and a breakout is needed to confirm a trend change
a close below yest low would confirm a downtrend, imo
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