This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Targeting portion for Friday, October 30th.
To gain access to these charts and all of the trade ideas in full…
sign up for a complimentary 30 day trial.
CHART OF THE DAY:
December LIVE CATTLE: (LEZ5)
Interesting price action yesterday (see yellow highlight). Early in the day we broke above the recent congestion to make a new recent high. Then we spent the rest of the day trading slowly lower to close negative on the day.
I like the idea of getting SHORT this market but I would like to see the market trade a bit higher, back to 143.00 or better would be great. I think the risk does NOT have to be above yesterday’s high rather just above that recent congestion of 144.00 (144.50 perhaps depending on your entry). Reason being, In my opinion, if we start to break higher we will see a retest of the 147.00 level. We might as well have our stop as low as possible and risk just a 1.00 or 1.50 at most.
For objectives, I think the small gap near 139.50 needs to be filled to get started (see blue highlight). Look for the 136.00 to provide a bit of support before possibly breaking down to sub 134.00
(see CATTLE chart below)
Call in or email your DT broker if these ideas peak your interest or if you have another idea on your mind…
If you are currently NOT a Daniels Trading client, this is the place to be!
You may not scan each market sector every day looking for technical set-ups and formations, but I do!
The Cullen Outlook has something for broker-assisted and self-directed traders alike.
If you really like trading the market technically and you find value in my newsletter, call in today and let’s get started!
Have a great day!
HAPPY HALLOWEEN this weekend
LET’S DO THIS!
Try The Cullen Outlook for 60 Days
The Cullen Outlook Trial - The Cullen Outlook is for those wishing to follow the moves of a technical trader. As a member of The Cullen Outlook, you’ll get to look over senior futures market strategist Brian Cullen’s shoulder, see the market set-ups that grab his attention, and learn what he looks for when analyzing a chart! You’ll also gain insight into Brian’s ideas from trade conception and entry point, to managing the trade, all the way up to trade exit.
The Cullen Outlook includes an email newsletter subscription.
The Cullen Outlook trial lasts 60 days.
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.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.