Quote:
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Originally Posted by Eric
Sada, I think it means for example:
Do not go long if price is 1.1785 through 1.1799 (because there will be resistance at the "round" number -- 1.1800, and it might retrace back down)
Do not go short if price is 1.1715 through 1.1701 (because there will be support at the "round" number -- 1.1700, and it might retrace back up)
But I could be wrong!
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eric, I think you are wrong he means
do not trade short OR long if price is 1.1685 through 1.1715 because he assumes this is a zone of great support or resistance.
xpie