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Pays to step back from the action sometimes and just see where we've come from.
Attached is 30 years of wheat. I don't think there can be much argument that we're
close to a trend change - but of course on a chart that scale it could be six months away.
Of more immediate interest is where is next resistance and that looks to me like it could
be around 245. I'll be happy to let the market prove me wrong. (ie. I'll get drawn in on a buy
stop above 257). Looking at a chart like this I begin to understand the truth about entries
being irrelevant - it's the exits that count.
Cheers
Jeff
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