Update on supports and resistances.
Pivot: 1775.00
Our Preference: SHORT positions below 1775 with targets @ 1760 & 1750.
Alternative scenario: The upside penetration of 1775 will call for 1790 & 1800.
Comment: as long as 1775 is resistance, likely decline to 1760.
Trend: ST Bullish; MT Bullish
Key levels Comment
1800*** Intraday resistance
1790* Intraday resistance
1775** Intraday pivot point
1763.9 Last
1760*** Intraday support
1750** Intraday support
1736** Intraday support
TIPS:
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Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
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