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Unsuccessful with trade 2. It traded as a positive response to...

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Beany72

3,285 Posts.

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01/05/17

19:17

Post #: 24391608
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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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Unsuccessful with trade 2. It traded as a positive response to the test which triggered the order, but failed to sustain the gain closing poorly. It looks a bit absorby to me, but will wait for another test.

Last edited by Beany72: 01/05/17
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