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Published 3/2/16 3:20 pm central – Update on end of day long opportunity
Here is a chart of the trade. I played it a little conservative taking the partial profit, because we had just come off a report and crude oil was looking like it wanted to move lower. So I wanted to preserve capital. So we were able to take a partial profit on this trade and updated the stop to breakeven level which triggered. For those who stayed long, you have been rewarded as we moved higher and are challenging the high’s we saw yesterday. If we get updated levels mid-day or end of session, It will be interesting if we challenge the sell zones and if we get a sell off again. There has been a lot of volume @ 1943.00 so I could see us retracing back down there. The next upside target is 1975, which is the weekly Top level on Market Action Scanner.
30 Min Chart highlighting position: (click for larger image)
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