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This is a pullback setup after the downward trendline has been intersected. Price goes up a little
bit then hesitates and falls back down to find support on the trendline that has just been
intersected and then starts to move up again eventually.
Simple setups, don’t you think? Do you know them and how to
apply them in real trading
situation?
If not, you may have countless opportunities to make good money but you have missed these
opportunities because either you:
•
Do not know these setups
•
Do not know how to effectively take advantage of these setups
•
Do not think this is important
•
Depend too much on your fancy indicators which do nothing but lag
Big mistake if you are doing that and here’s why…
The big financial institutions (the big boys I call them…the ones that move the market because
of the sheer volume of their transactions) and thousand of smart traders do not depend so much
on using moving averages and whatever indicators…they
watch the major trendlines, support
and resistance levels and they take trades based on them…and guess what?
They MOVE the
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