While it is difficult to determine from a short-term perspective at one point things will stall out, it is also quite clear that the market is now by some major cyclical longer-term lows with daily, weekly and monthly studies all now warning of a major move to the upside. Critical psychological barriers are fast approaching by 1.5000, and as such, we would not rule out a test of this level. However, any additional setbacks below this barrier are seen limited, with the more likely scenerio favoring a massive bout of profit taking at the figure. We will therefore look to establish a long position by 1.5000 and will not confine ourselves to a hard stop-loss, instead deferring to a longer-term strategic strategy play. STRATEGY: BUY @1.5010 FOR AN OPEN OBJECTIVE. POSITION SIZE SHOULD BE 3X TOTAL EQUITY.
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