The backlink model is below.
Although I banked a nice profit, to be honest, I was hoping for more out of FXP at this point then to end the week at strong resistance. As a result, I sold it when I sold UVXY and I will be looking for a likely re-entry point for both of them per the red model below next week. But if FXP does not stop at that gap fill then the next support is the lower rail shown in blue.
A gap above that top rail on Monday tells us that the shorts are back in control...
Friday, November 13, 2015
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