Market Curiosity: Exploring Markets And Systems

July 25, 2011

Eurodollars – potential short at potential resistance (update 1, July 27)

Filed under: Futures Trades, Just Watching — Tags: , — Jeff Fitzmyers @ 10:25 pm

Sell stop is 98.30 ish. Stop loss around 98.38.

– The fundamentals are horrid.
– Could be at a bit of resistance.
– Volume is declining. Actually this might not be all that significant. There was good volume off the near term EMA (yellow), and volume is now lessoning with the correction.
+ The gov will never let it crash, if possible.
+ EMA’s all still moving up.
– If the near term RSI (yellow) starts down, that would make a nice short signal with the mid term RSI (magenta) under a declining longer term RSI (blue).

Really the main reason for the trade, and a small position at that, is the possible small risk at resistance.

July 27: Order cancelled.

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