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Home / Futures Blog / Pre-Dawn Targeting (1-28)

Pre-Dawn Targeting (1-28)

January 28, 2015 by Brian Cullen

This is a sample of Brian’s email newsletter, The Cullen Outlook.  This is the Pre-Dawn Targeting portion for Wednesday, January 28th.

To gain access to these charts and all of the trade ideas in full, sign up for a complimentary 30 day trial.


 

Good Morning-

Happy Wednesday….Let’s ring the mid-week bell!

“You know you are up early when the Cocoa market isn’t even open yet” -me, this morning

A few small changes that current followers will notice is how I will be labeling the emails that you receive.

The early morning emails (like this one) will now be Pre-Dawn Targeting. These emails will pinpoint all of the formations that I see where I believe trading opportunities exist.

For those who are just getting started following along, all clients can look to trade these markets if these levels are reached.

Broker assisted clients feel free to call your broker to discuss or email in…self-directed clients are free to pull the trigger on their own if they agree.

Next, the trade idea emails that come out during the day will be called Trade Idea Snapshot. This is where I will continue highlighting ideas with entries and management throughout. Traders may follow the ideas “as-is” or adjust them to your own comfort levels.

As in the past, some markets from the Pre-Dawn will be highlighted as Trade Ideas in The Cullen Outlook, others will not. I typically use the Pre-Dawn email forum to get ALL of my ideas out to you with entry levels to trade and suggested exit points. As I have in the past, depending on time constraints, I will randomly choose to showcase a few throughout the week in the Snapshot emails.


Let’s get into Wednesday….

We have 3 positions on:

  • Long the March Soymeal from 327.0
  • Long the Aussie Dollar from 79.25
  • Long the March KC Wheat 5.50 put from 10 cents

FOMC will release their monthly minutes later this afternoon. There are a few things that I will be looking for after this is released.

I like the downside to Bonds if we see a spike higher up to 151.00 and I like the downside of the Euro if we see another push up to 115.00 – 116.00 and selling April micro Gold on the next run up to near 1300.0

Until then…

Let’s take a look at March COTTON:

After a strong day on Monday, we did not see any retracement in the market yesterday so I turn my attention to the upside for now. I like the 58.00 level but I do not know if we will see it and I don’t mind getting aggressive on the entry. Trade according to your own risk parameters and comfort level.

I like buying at around 58.50 (old support) while risking just under Friday’s low of 57.00 As far as objectives go, look for the 61.00 level to provide some resistance. If it can muster up enough strength to get through it, look for 62.50

What are we going to do with March NATURAL GAS?:

This 2.80 level has been very strong in the 3 weeks of 2015. And if we see it again this week, I would like to get involved there LONG. Buying at 2.80 with 2 mini contracts and risking to 2.70 would be $500.00 of risk. I think we test the 3.00 level again before long on its way to 3.20 There is a gap at 3.35 – 3.45 that needs to be filled.

April LIVE CATTLE:

How do you sell a market that was “limit up” the day prior? Short answer is very carefully! In my opinion, rallies in the Live Cattle market should be sold. If we can get above 151.50 today, I like the idea of getting short and risking 1.50 from entry. For an objective, look to the lower end of the 140s. We were involved in the downside of this market back in mid-December and I have been looking for another chance since our exit at 156.00 in the February contract. The congestion that I was monitoring in the February contract translates to the 153.00 – 151.00 in the April contract, which will be the new front month next week.

Old support becomes new resistance in March CRUDE OIL?:

If you are looking for a spot to get short the Crude market, look at the 46.25 level. This was support last week and we knocked on the door both trading days this week with no follow through. I like getting short Crude Oil at 46.25 if we see it today. Risking $1.50 would be plenty. Please note that there is the weekly Energy Report at 9:30a (cst) today. I do not mind trading ahead of the number but some may not be comfortable with the idea. As far as an objective goes, I think this market wants to ultimately trade to 40.00 but I will be trailing the stop order down if we get filled and begin to trade lower.

If you see anything that you want to get involved in, call or email your DT broker.

LET’S DO THIS!

BC

Brian Cullen

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.

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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.

Filed Under: The Cullen Outlook

About Brian Cullen

Brian’s career began working with equities and equity options at Charles Schwab. Since then he has held various positions within the financial industry, from head clerk on a high volume trading desk on the floor of the CBOE, to being a “market maker” for a proprietary trading firm in the SPX and OEX pits. Brian then branched off to expand his horizons and transitioned into the futures market as a retail broker. He was a Market Strategist for Lind-Waldock’s Private Client Group division, dealing exclusively in the commodity markets.

Brian joined Daniels Trading in early 2009 to expand his added value services as a broker, and to build his client base in new areas. With Daniels Trading’s diversified execution categories, the opportunities for Brian’s clients are endless.

Brian’s goal is to work with his clients to focus on one main principle: Staying true to the principles of successful trading.

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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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