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Sunday, February 6, 2011

Time to attack Masteel

As Mention on previous post on Jan 19, we will wait until it drop unitl 1.28 and attack when rebound




Observation
1) Trend Line - Broke the Downtrend line ( Bullish)
2) HH - Formed higher low at 1.28 and now going up ( Bullish)
3) MACD - 4R1G detect - Start of bullish attack
4) RSI - Maintain at 59% if it go up will show sign of bullish. Waiting for confirmation
5) ADX - Momentum is strong and bullish ( Bullish)

Conclusion
3/5 Indicator is bullish and 2 indicator waiting for confirmation

Entry Price  = 1.38
Stop Loss = 1.28
Take Profit = 1.45 and 1.52 and 1.57








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