corn futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from October 5th.
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Check out some of the most recent posts here:
How-To Guide: 10 Rules for Technical Futures Trading
If you got involved in this Formation Finder from Friday the 30th, great job!
We have seen a nice 10+ cent move higher after breaking out above the weekly channel.
It is time to reward the market by moving your stops, taking profits or checking in on any call options purchased.
If you did not choose to get involved in this set-up, it is important to at least go back and check in on the pattern that was mentioned for a few different reasons…
- The set-ups that we see are not unique to any particular markets.
- A formation you see in one market can potentially present itself in another at some point down the road.
- It can be helpful to recognize price action when formations are happening so you can be better prepared the next time a certain set-up is noticed and pinpointed in whatever market it happens to pop up in next.
The point though is that if you notice a formation on a chart happening that you recognize or have seen before, I want you to be prepared to take action.
You may miss them from time to time and there will be trades where you are wrong. It’s ok, it happens to every trader…from time to time. Welcome to the club!
*** If you need any assistance with your entry and exit points on any of these Formation Finder emails, don’t hesitate to contact your Daniels Trading broker and we will be glad to help you ***
Check out BOTH charts in the December Corn market below…
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
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