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Home / Futures Blog / Beyond the Spotlight: Mini Dow & British Pound – September 29, 2014

Beyond the Spotlight: Mini Dow & British Pound – September 29, 2014

September 29, 2014 by Don DeBartolo

For the Week of September 29, 2014

The Trade Spotlight advisory service applies the GBE trading methodology (buying or selling commodity contracts based on breakouts of chart formations and technical indicators) to identify one to two trade setups per week.

Highlighting This Week’s Potential Breakouts:

Mini Dow

The December 2014 Mini Dow contract has created a solid support level near a 50-day Moving Average (16827). The contact tested this level on 9/15/14 by making a low at 16839 before rallying to a new twelve-month contract high at 17279 (9/19/14). As the contract once again approaches this support level, watching for an opportunity to get short. A break of recent support may pressure prices lower. The support level goes back to June and July with a series of highs and lows. A downside target is the low of 16143 (8/08/14). MACD, a trend indicator, is bearish above of the baseline. The Trend Seeker (a U.S. Chart Company tool to help identify a market trend) is Up. For trade confirmation, the Trend Seeker must be Down. Perhaps a close below the support level or the 20-day Moving Average crossing over the 50-day Moving Average will cause the change. Momentum is bearish as the Stochastic indicator is headed downward above the “over sold” level.

British Pound

The December 2014 British Pound contract is setting up a long entry opportunity if the price trades through recent highs. Using the 1.6404 (9/23/14) high as the breakout price. The 9/19/14 high of 1.6515 is being discredited as this high was made on news of Scotland remaining part of the United Kingdom. This high actually sets up a short-term target. The next target would be a previous support level near 165.50 where the contract traded near the end of August. The Trend Seeker (a U.S. Chart Company tool to help identify a market trend) is Down. For trade confirmation, the Trend Seeker will have to be Up. The MACD, a trend indicator is bullish below the baseline. Stochatics, a Momentum indicator, is flat. The 20-day Exponential and 50-day Moving Averages are pointed down as well. It may be awhile for this trade opportunity to setup meeting the criteria but its one to keep on the watch list.

Risk Disclosure

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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Trade Spotlight

About Don DeBartolo

Don C. DeBartolo is a Series 3 licensed broker registered with the National Futures Association (NFA). As a former arbitrage clerk in the S&P 500 futures pit at the Chicago Mercantile Exchange (CME), Don has floor trading experience. Taking his trade execution expertise and ability to navigate a fast-paced environment, Don transitioned to the brokerage side of the business. Since 2005, he has worked at Daniels Trading, a brokerage firm in the heart of the financial district in Chicago. His responsibilities as a broker include providing market analysis, trade execution, and money management to his clients around the world. In March 2010, he developed a formal trade advisory for clients of the firm seeking specific trade recommendations and subsequent risk management.

Due to his widespread proficiency and experience with the futures and commodity options markets, he is able to offer his clients timely insight, specialized trade recommendations, and educational information through various videos and writings.

Studying at Loyola University Chicago, Don discovered the international sport of rugby. Still today, he plays for the Chicago Griffins, a member of the highest league of rugby competition in the United States. Skill and discipline are two traits that carry over from the pitch to the trading screens.

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Risk Disclosure

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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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