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Foray Into Chart Analysis

|Includes: Whirlpool Corporation (WHR)

I just picked up "Trading the Trader" by Quint Tatro and am putting some of his insights to work.  My current position includes a Long Entry today of WHR as it broke above a descending trend at ~$82 instead of below the support at ~$79.50.  This coiling between these two trendlines has been getting tighter over the last few weeks and with this breakout I see an upside at least in the ~$83.50 and if it goes about $84 and closes there the top may be higher.  On the downside that ~$79.50 trendline may be tested again soon as it is relatively close to the current close of $82.09 by percentage roughly 3%.  I am planning to start taking profits at $83.50...