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Re: input on FXF chart and resistance levels *PIC*

Here is a "Daily" chart of FXF. This chart will be easier read and trade off of. Note price has been in a steady uptrend and has shown a lot of support at the 50ema as I mentioned in my last post. Also notice price comes back to the 'previous high' which often lines up with the 50ema. You will see this often with many markets. On steeper selloffs price has come back and stopped on the 100ema both as support in the uptrend and as resistance in previous downtrends. Right now price has gaped up and made a new high. But look at the momentum indicators below and see how recently price became overbought and now with the new high both oscillators are lower displaying negative divergences. Bottom line is what I said in my 1st post: Wait for price to come back to the rising 50ema before considering a buy regardless as price always pulls back to this point with no need to chase it. Even then consider where your stop loss is or what your acceptable drawdown would be as price could just as easily drop back to the rising 100ema on a steeper pullback which is also its uptrendline and a far stronger more reliable support base than the 50ema that is often violated on pullbacks. Keep in mind the 50ema and 100ema and uptrendline are also rising all the time with price above.

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Re: input on FXF chart and resistance levels *PIC*