GBPUSD River Theory
Posted: Tue Mar 06, 2007 11:20 pm
As expected in our analysis from yesterday, the 9175 level held, and price moved up to 9443 almost exactly. I continue to hold longs on this pair from below the 9251 level. Please take a look at the monthly PDA charts if you have a chance before planning trades.
I expect we may move up and test the River Level at 9382. We will need resolution of this area before our next directional flow occurs.
Aggressive Traders can set up shorts with the supply crowd in the 9347 / 9382 River area. Risk would be above the River Level. My target would be 9251 where I would cover and look to establish longs for a move up. I favor longs out of the 9251 Zone -2 level.
A move above River at 9382 targets 9443 where I would cover and stand aside. Risk on this long would be below 9251.
I am longer term bullish this pair, however until River is resolved, I am short term Neutral.
NEUTRAL UNTIL RIVER IS RESOLVED AT 9382
I expect we may move up and test the River Level at 9382. We will need resolution of this area before our next directional flow occurs.
Aggressive Traders can set up shorts with the supply crowd in the 9347 / 9382 River area. Risk would be above the River Level. My target would be 9251 where I would cover and look to establish longs for a move up. I favor longs out of the 9251 Zone -2 level.
A move above River at 9382 targets 9443 where I would cover and stand aside. Risk on this long would be below 9251.
I am longer term bullish this pair, however until River is resolved, I am short term Neutral.
NEUTRAL UNTIL RIVER IS RESOLVED AT 9382