This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Update portion for Friday November 14th.
To gain access to these charts and all of the trade ideas in full, sign up for a complimentary 30 day trial.
Happy Friday….what a week!
Busy from the Monday morning bell and it never let up…let’s keep that ball rolling!
Today’s Pre-Dawn will be dedicated to trendlines and stochastics and I will highlight 4 markets worth a good look (with the charts attached).
You will also notice that I added the 20 day moving average in blue to the charts…or what I like to call “The Market’s Spine” and this is where the technical analysis guide that I published got its name. If you haven’t looked through it yet…the link to the guide and 6 video suite is below.
The Market’s Spine guide (with 6 video suite):
Let’s get after these markets today…
December LIVE CATTLE:
Keep an eye on this 170.00 level. If it gets turned away again and the stochastic rolls over (red crossing over blue to the downside), prepare to take action and get involved! It may not be today but it is on my radar! The risk would be no more than $1.50 from entry. A break of that trendline would come in it appears at 166.50 (see attached CATTLE chart)
December AUSSIE DOLLAR:
Yesterday we saw the down trendline hold and the stochastic has started to roll over lower. A great spot to look for a short entry would be the 87.00 level. The risk would be just above yesterday’s high and just outside of the trendline. If you happen to catch it and this market takes out the lows of early October, you may look to add another contract on. (see attached AUSSIE chart)
December SWISS FRANC:
It has a couple things going on. We are sitting at the point of a pennant and it will have to break out one way or the other….so be ready! If it breaks out to the upside it will have a trendline to deal with at 144.50 The break-out moves on the last 2 pennants on this chart have been to the downside. Can you see them? I am not saying that this will happen a 3rd time, no one knows, I just wanted to point that out and see if you see what I see. (see attached SWISS chart)
Turning our attention back to the downside after we exited our 2 long positions yesterday. You will see that on Wednesday the market closed just on or above the trendline (very close call) but was turned away late yesterday back to the 16.00 If we could see 16.10- 16.20 again, that would be a spot to target to get short..that said, the stochastic looks very strong to the downside. The risk would be just above that Wednesday high and just outside of the trendline. Let’s see how the early morning plays out!
For those of you who were able to keep up and got involved this week, great job!
Have a great weekend!
LET’S DO THIS!
Learn Futures Technical Analysis from a Pro with The Cullen Outlook
The Cullen Outlook is a futures trading newsletter for those wishing to follow the moves of Brian Cullen, an experienced technical trader. He’ll identify charts setups, provide direct trade recommendations and plans, and share other useful insights to help you become a better technical trader.
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.