Forum Archive Index - February 2003

[Phaedrus <Phaedrus@techemail.com>]

Michael,
        Technically, the most important recent event with GPG is the break of 
the long-term trendline. This was a confirmed trendline that had held for 3 
years. Price action failed to follow through from the recent medium-term 
trendline break, making this a losing trade. Failure was marked by (1) The 
break of the longterm trendline, followed a few days later by (2) Failure of 
the recent support at $1.51, followed a couple of weeks later by (3) Failure of 
the recent support at $1.49. Buying close to a major trendline and close to 
recent support meant that this was a low risk trade, in that if it went against 
you, losses were small.
             Regards,
                      Phaedrus.

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