natural gas futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Trade Idea portion from October 17th.
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November NATURAL GAS:
Look closely: This will be the 2nd time we see a big bullish candle followed by a bearish candle and another gap lower bearish candle. Do we break lower this time?
This trade, if entered, will be good for the next 7-10 days of trading before we roll to December.
2 contract sizes:
- GNGX6 is the standard size ($100.00 per $0.01 move)
- QGX6 is the mini contract and 1/4 size, ($25.00 per $0.01 move)
SELLING 2 minis to enter at 3.25 (GTC) …last traded 3.23
Risk will be the 3.38 level …($650.00 on 2 minis)
Objective will be the 2.90 level …$1,750.00 on 2 minis
(short term obj will be the 3.05 level …$1,000.00 on 2 minis
OPTION TRADERS: Look to buy the standard contract November 3.15 put for 50 points ($500.00) to participate for the next week of trading.
Initial margin per mini contract is $650.00
Check out the November Natural Gas chart…
Filled at 3.25
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