us dollar trade idea – cullen outlook – formation finder
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Good Morning—
September US DOLLAR:
(DX-MU6)
BULL FLAG!!!
After struggling with the upper end of the flag channel for the past 2 days…
…this morning’s Unemployment Data pushed it out and to the upside. Let’s do this!!!
TRADE IDEA:
BUYING to enter at 96.25 (GTC) …last traded 96.40
Risk will be the 95.50 level …($750.00)
Objective will be the 98.00 level …$1,750.00
(short term obj will be the 97.25 level …$1,000.00)
initial margin is $1,540.00 per contract
So once you recognize a BULL or BEAR FLAG, how do you trade it?
Broker Tip VIDEO:
Click here to watch the short video that I put together on flag formations to help explain
Check out the September US DOLLAR chart… (click to enlarge)
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This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
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