DownRiverTrader
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Hold your longs....
The market traded up as anticipated today to close up around 60 points. I continue to follow our theme of short term USD strength until this view is proven incorrect. I anticipate a move to 119.35 and possibly higher.
If you have been following the recommendations, you should be long out of 116.63 with a nice profit of around 130 points. If you are long, stay long. Manage your downside risk using the River Level which comes in today at 117.36. This level should provide good demand if it is challenged, but if it is overcome then I would cover longs as this is our first sign of weakness.
The continued success of our longs is the 118.48 area. We have to overcome the supply in this area we should see short covering and we may move up to 119.59/35 where I would cover and wait for resolution of this important level.
SHORT TERM BULLISH ABOVE RIVER AT 117.36
The market traded up as anticipated today to close up around 60 points. I continue to follow our theme of short term USD strength until this view is proven incorrect. I anticipate a move to 119.35 and possibly higher.
If you have been following the recommendations, you should be long out of 116.63 with a nice profit of around 130 points. If you are long, stay long. Manage your downside risk using the River Level which comes in today at 117.36. This level should provide good demand if it is challenged, but if it is overcome then I would cover longs as this is our first sign of weakness.
The continued success of our longs is the 118.48 area. We have to overcome the supply in this area we should see short covering and we may move up to 119.59/35 where I would cover and wait for resolution of this important level.
SHORT TERM BULLISH ABOVE RIVER AT 117.36
