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| Discuss A learners query... at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi, I noticed many charts are following this pattern, can someone explain: See the dotted ... |
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#1
10th October 2006, 12:23 AM
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A learners query...
Hi, I noticed many charts are following this pattern, can someone explain:
See the dotted trendlines, they fall certain degrees after say 1/1.5 months to a lower degree where the old line becomes the resistance line... would appreciate if someone can explain a learner please...thanks 
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#2
10th October 2006, 08:01 AM
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Re: A learners query...
All stocks form their price support and resistance zones as they progress. It is these zones that provide the support and resistances which may or may not fall on a trend line.
Very often you will notice that a trend line has been breached briefly only to be followed by a nice move in the opposite direction. If you look to the left you will clearly see the existing support/ resistance zone. Please see attached chart.
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