Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: chowder	2/2/2006 8:45:02 AM
	Read Replies (3) of 13449

2/1 SET UP ... AX ... Long term ........................... AX is setting up a bullish 123 pattern on the weekly chart. This set up focuses on the last two candlesticks. The first candle is a wide range bar and in this case, formed off a price support level. The second candle is a narrow range bar that forms in the top 1/3 of the previous wide range bar. This suggests that the price movement is operating from a position of strength and if price trades above the high of the narrow range bar (last one on the chart), we should see the next leg up. Weekly chart: stockcharts.com[h,a]waclyiay[d20050202,20060202][pb20!b40][vc60]&pref=G Entry target $59.62. Initial stop loss $52.75. Profit target $10.00 - $17.00. dabum

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