Hi Guys,
I was doing some extra analysis on my active trades over the weekend, my system is a version of the turtle strat so i have no real take profit, because of this im looking for longer term support/resistance and areas where price may stall or reverse.
I have noted that on the monthly chart we have just broken down from a trendline dating back to January 2009, if we close this week (and by extension this month) below this trendline then i can see a fall to horizontal support at 76.70
I was doing some extra analysis on my active trades over the weekend, my system is a version of the turtle strat so i have no real take profit, because of this im looking for longer term support/resistance and areas where price may stall or reverse.
I have noted that on the monthly chart we have just broken down from a trendline dating back to January 2009, if we close this week (and by extension this month) below this trendline then i can see a fall to horizontal support at 76.70
Note
we respected the trendline, i will be looking for some long from here probablyNote
Trendline still holding
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.