Richard Dupuis is a technician who trades Eurodollar futures for his own account. He analyzes charts based

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Richard Dupuis is a technician who trades Eurodollar futures for his own account. He analyzes charts based on one-minute time intervals looking for short-term trading opportunities. Eurodollar futures contracts have been trending upward most of the morning, but Dupuis now observes what he believes is a double-top pattern: After peaking at US\($97.03\), the futures contract price fell to US\($96.42\), climbed again to US\($97.02\), and then started a decline. Because of the double top, Dupuis anticipates a reversal from the uptrend to a downtrend. Dupuis decides to open a short position to capitalize on the anticipated trend reversal. What price target should Dupuis estimate for closing the position?

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Related Book For  answer-question

Investments Principles Of Portfolio And Equity Analysis

ISBN: 9780470915806

1st Edition

Authors: Michael McMillan, Jerald E. Pinto, Wendy L. Pirie, Gerhard Van De Venter, Lawrence E. Kochard

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