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Breakdown here should be more likely as the low has been tested many times.
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Looks like a false breakdown. Lots of long lower shadows which means bulls are buying here so a good bull bar here (while I'm typing) probably would mean the low was in for today.
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Consolidation, so bias is down. New low so my "typical" call stopped working today therefore the always give bulls the benefit of the doubt might not work today, i.e. the overall bias might be down.
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I shown this chart yesterday, end of the run when TRIN and NYAD were on the sell. today is the day? also a daily trend following will rigger sell today if we close here or lower. well, more nature call this week, GLTA, see you next week.Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Nothing new to say, so far just as I said "bias is down". It's a down price channel, now moving along the channel lower boundary so at certain point, there should be a bounce to the upper boundary. 2 pm small roller coaster show, don't forget, by the way.
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