Friday, September 21, 2012

Guest Post by @JimIuorio of TJM Institutional

Guest Post by @JimIuorio of TJM InstitutionalSocialTwist Tell-a-Friend


Attached is a chart of December Canadian Dollar CDZ2.

it caught our attention because of 2 different technical signals. Yesterday's bounce off trend line support was constructive and suggest a return to channel resistance.

We also like that it violated what looked a bit like a bull flag from the last few days trade.

If we get a close above 102.42, we will consider that a confirmation of the pattern.

We will look at the CDX 104-105-106 call fly for 9 ticks.

The NOV contract expires on nov 9th, 6-7 weeks out would give us an objective of 105.06 by first week of november.

The potential gain is 100-9 = 91 ticks.

Cheers....

Disclaimer and Terms of Service

© Copyright 1998-2021 , Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34110, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.