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Home / Futures Blog / Pre-Dawn Targeting (2-18)

Pre-Dawn Targeting (2-18)

February 18, 2015 by Brian Cullen

This is a sample of Brian’s email newsletter, The Cullen Outlook.  This is the Pre-Dawn Targeting portion from earlier this morning for Wednesday, February 18th.

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


 

Good Morning-

If you were thinking that a CHART WATCH! webinar today would be a good idea…then we are on the same page!

 

Sign up for this afternoon’s webinar and join us if you can:

CHART WATCH! Chart Reviews and Markets To Watch with The Cullen Outlook

https://www.danielstrading.com/webinar/chart-watch-with-the-cullen-outlook/

Positions we have on:

  • LONG the May SUGAR from 14.50
  • LONG the May SOYMEAL from 323.0

 

There are 3 additional markets that I will be getting involved in this week.

 

COTTON:

We are now in the MAY contract.  This market has been on a very impressive run since Jan 26th.  We are now bumping up against old resistance in October around this 64.00 level.  If the market is going to continue to trade higher, I’ll keep watching.  BUT, if it turns around and starts to break lower, I want to be involved.  Selling on a stop at 64.00 in my opinion is a good idea.  Risking 100 points ($500.00) would be where I would start.   I’d like to see if we could get back to the bottom of the old congestion of say…60.00?

 

CANADIAN DOLLAR:

Another market that is fighting with some recent resistance, I am looking for a break-out to the upside.  I like the idea of buying on a stop up around 81.00 if we start to push higher.  The chart shows some room to run to 83.20 as the 1st target spot.  While the risk would be more monetary, I like 60 points or $600.00 to get started.  I would look to move this stop order as soon as possible.

A March 80.00 put with 37 delta would cost roughly $570.00  You could have this on in addition to your stop.  This would reduce your margin and gives you participation if it turns around and trades lower.

 

KANSAS CITY WHEAT:

I am looking at the May contract.  Yesterday’s price action right on the open has me intrigued.  The market was turned away once already from the late September support but failed to get that momentum push lower.  Over the past week, the KC Wheat market has also been bouncing off the 20 day moving average.  I will be willing to give this possible 2nd attempt a try.  I like the idea of trying to get short this market here near 5.65 with a risk of about 12 cents above the February 6th high.  The first area that I will be looking for if we do indeed get the sell-off would be the 5.40 level and on to 5.20-ish?

*** Look for a break of 5.50 to add an additional contract ***

 

Call the desk or email your DT broker if any of these ideas interest or if you need assistance putting some of your own ideas to work

 

Ring that mid-week bell…

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.

Register Now

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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