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Wednesday, September 23, 2009

#20,21 stairs


#20, the white dots clearly show the price stepping down, once the price got under the tma you could have shorted, the previous high being your s/l. this is why i prefer the rainbow as you and clearly see these setups. But i am more of a contrarian trader so when the price reversed back up above the tma and started to step up (pink dots) i entered a buy and grabbed a couple pips.

#21 then it reversed down below the tma the trend overall is down so i took the short and exited on the yellow reversal signal. You can see the aqua balls going down

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