Pulling back on the daily chart to a pivot point, old support, and 50% fib cluster. Possible divergence on MACD but looking to go long. Target at recent high with stop below recent low.
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garygoodguy
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Almost stopped out, but this illustrates the use of good stop (protected behind previous low) and going on to a 2:1 winner. Notice also the bounce off the strong support line drawn in.