Once you have decided a price at which you wish to buy, adhere to that strategy.
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The three trend lines that can be drawn from the initial point of the trend through each of the retracement extremes are known as Fan Lines.
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The penny is brand new and has no mark’s or scratches on it.
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Which is where we get the term Random Walk.
When finally prices violate the third fan line it invariably means the trend so monitored has finished and a reversal of the trend is underway.