canadian dollar futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Trade Idea portion from August 9th.
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I was out of the office most of last week but I am back this week. I did get a chance to monitor the markets and wrote down a few levels on a few markets that I will be sending out throughout the day today and into tomorrow.
Lets get started and get back involved. Here we go!
September CANADIAN DOLLAR:
Long future with a put option to boot
BUYING to enter at 76.00 (GTC) …last traded 76.02
Risk will be the 75.30 level …($700.00)
Objective will be the 78.00 level …$2,000.00
(short term obj will be the 77.00 level …$1,000.00)
*** In addition to the STOP LOSS order, I will also be
BUYING the September 75.00 put for 38 points ($380.00) ***
If we do not get the bounce we are looking for, we will have the put on for extra protection and participation on any move lower.
We will exit the put option as soon as we are comfortable to move the stop order higher.
STRAIGHT OPTION TRADERS:
Look to BUY the September 76.50 call for 54 points ($540.00)
Check out the Canadian Dollar chart…
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