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Daily Review '04 - August 31
August 31 2004
Coming into todays session we can see a consolidation or sideways channel/range The divergence on MACD would have suggested a rise in price which we saw later in the day.
Keeping the 60 minute divergence in mind and the watch area's I like to take trades on with I am looking for a potential long from the divergence or an indication of reversal for channel resistance to hold. On the chart I have highlighted one of my favourite indications of a price reversal.
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