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The key word of the last week has been whipsaw. This term is applied in trading circles when the price head’s in one direction, and then is quickly followed by a movement in the opposite direction.
Well the signal came in super bullish fashion. One big candle on high volume pierced through the entire cloud and into bullish territory. As a rule, a piercing of the cloud is followed by some muddling around in the cloud testing support and resistance.
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