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Wyckoff trading method, page-1838

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Beany72

3,285 Posts.

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28/04/17

21:26

Post #: 24346983
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Originally posted by Beany72 ↑

RXP has gapped up, upthrusted and then shaken out. So to me the last 3 bars are indicative of an absorption. Today's close being positive, above resistance and the highest closing bar of the previous 4 gives me confidence in this being a successful absorption process. I now anticipate prices to go higher and have documented the following trade. Taken the volumes into account, a test bar may required. I don't expect a test bar would hit 86c triggering the order.
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The test today has me more confident in this order should there be a successful response on Monday.
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