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Trade the purple channel

Long
console Updated   
BITFINEX:BTCUSD   Bitcoin
LONG
Open: 7860
Close: 8200

As you can see we have hit key support and have left oversold territory.
We are in a descending channel and i feel its safe to take a long now at the bottom of the channel,
Closing again at the top (purple lines).
Trade closed: stop reached:
stops hit, support becomes resistance....

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