This was a live trade taken on Friday 04-09-2021. This was a higher low long entry off of the green range support. Notice how prices bounced there multiple times, but more importantly, there was a failed break lower just prior to this higher low.

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George April 9, 2021 at

Finally Mack after your trade came a Fail Second Entry Short with a nice very bullish engulfing bar on range’s support, great setup. I got this trade but my runner stoped out.

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Louis April 9, 2021 at

Hi Mack. Thanks for your time putting these together. They are great to watch. You commented on the down trending channel only briefly, saying you did not think it was valid, and you were trading the green range. I see both the range and the channel, and although you are trading off the bottom of the range, you are also trading into the top resistance line of the down trending channel. You state that this was because of the close outside the channel and bounce off the range support line. What convinced you that the channel was not valid, and the top resistance line of that channel would not hold?
have a great weekend.

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limeuseng April 12, 2021 at

Hi, i just sharing my thought on your question. The down channel not valid is because the third touch did not hold the prices, hence we saw it broke outside and expected prices test the low, but it bounced off at the strong support afterward. Consider the higher low forming after the failed break lower of the range, the odd going long is much more convincing at the moment.

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