Welcome to the Traders Laboratory Forums.
Rate this Entry

Dollar Index Futures Commentary: 5-24-2011

Posted 05-24-2011 at 09:58 PM by fcfutures

Fortress Capital has identified a selling opportunity in the June Dollar Index contract. The Dollar Index is testing a trend line that was broken on 5-18-2011. We also see a bearish inside candlestick pattern. With the trend line as resistance and the bearish candlestick pattern, we feel this is a good spot to look for a short position. We recommend entering on a stop below today’s low, trying to catch the downward momentum we anticipate.

Sell June Dollar Index @ 75.955 Stop

Buy Stop 76.330

Buy Limit 75.090

For more updates and recommendations: visit our website - Fortress Capital
DISCLAIMER: There is a substantial risk of loss in trading futures and options; such trading is not suitable for all investors. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction
Posted in Uncategorized
Views 380 Comments 0
Total Comments 0

Comments

 
Total Trackbacks 0

Trackbacks

All times are GMT -4. The time now is 04:25 AM.
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
CS to VB integration by DeskLancer
©2006-2011 Traders Laboratory, All Rights Reserved.