I am a huge long term dollar bull via UUP calls and I keep a close tab on the DX futures. With gold looking like it needed a bounce over the last few days and the dollar having had a huge run in the past few weeks I was not surprised that there was a bit of a shakeout to catch late to the party bulls off guard.
Did any of you folks get caught on that one?
Watch the $22.40 level on UUP (around the 83.00 level on the dollar index) as a line in the sand to exit near term trades but if that level can hold then it could be a nice entry area.
I wrote an article a few days ago detailing my trade strategy for short / medium and long term traders - feel free to take a peek at my profile info if you want to track down my article.
Best of luck and good trading!
MP