Please note that I have made adjustments to both the static levels (black) and the dynamic River levels (blue) based on the price action over the last 5 weeks. The static levels will be fixed for approximately 4-5 weeks depending on volatility. The market continued to give you the opportunity to set longs or hold existing longs. Price closed above the River level of 119.59 today so short trades are aggressive. Long Strategy Traders can continue to hold longs as we look for 120.43. Exit here. Risk would be an hourly close below 119.50. Traders can look to set longs on a push down to River at 119.59/69. Riisk is an hourly close below River at 119.50. Targets is 120.43. Exit here. Short Strategy (Higher Risk) Aggressive traders can use the 119.59 River Level to set shorts. Look for an hourly closed below this level to set up. Risk would an hourly close back above 119.69. Target transition at 118.94 and cover completely here.
have you already explained your methodology elsewhere, if so please post the link, or please explain what the lines on the chart are, how they're obtained what exactly is the 'river' and how are trades entered
Wallace, I am working on posting some documents on "How to Trade" this methodology. It is not difficult. The lines are simply supply and demand lines. I like to give an unbiased analysis so that someone can take advantage of whatever the market gives during the day. The goal is to step through the various levels without consideration to time. I will work on getting something out on this.