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2010-07-14 14:15:00
Thomas Long, Course Instructor

So now we wait for lower highs and lower lows to form on this 4-hour chart for a potential sell entry and that would start with a move down through the 110.668 low as noted on the chart. A more conversative entry can be found on a further move down through the 109.135 support level, however, all trades should include a protective buy stop which could be placed just above the 113.301 buy side high. Target to take profits should be set at twice that risk for a 1:2 risk:reward ratio.

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