09 August 2014

ED Futures : Reversal at Top of Trading Band

  • Price action yesterday (Obama Iraqi air strikes announcement) revealing [Op 97-99, Hi 98-06.5, Lo 97-95, Cl 97-95.5 = strong reversal] the area around 98-06 as strong resistance.
  • Trades : Initial short EDZ6 at 97-95, added on at 98-04 and 97-98. Also short TYU4 at 125-22.
  • At this stage, having been disappointed again and again on the bond bear trade, am not looking for much on this. A return to the lows of the daily chart trading range around 97-80 would be immensely satisfying already.
  • Trade back > 98-06 would be :(     Not expecting this though.

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