where are we going now

- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Money moves the market, not an indicator.
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Disliked{quote} My guess is that the current downtrend will continue atleast untill 0.7250 level. Here I have marked down support. This support level is not definite. I wouldn`t place buy limit orders at it. It could go as far down as 0.7175. My signals and logic says that the current downside is getting a little exhausted. My preference would be to wait for long entry, alternatively to look for shorts at the resistance around 0.7350. It is very important to enter at the correct level to obtain a good risk:reward ratio with a sensible stop loss.Ignored