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Home / Futures Blog / The Cullen Outlook – The Hanging Man: Would You Know It If You Saw It?

The Cullen Outlook – The Hanging Man: Would You Know It If You Saw It?

May 20, 2016 by Brian Cullen

This is a sample of Brian’s email newsletter, The Cullen Outlook.

This is from the Formation Finder portion from May 20th.

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sign up for a FREE 60 day trial.


Good Morning—

There is a “HANGING MAN” in the July CRUDE OIL:

(GCLN6)

The mini contract is 1/2 the size of the standard contract…$500.00 per $1.00 move

(QGN6)

The “HANGING MAN” Defined:

  • This is a reversal candlestick.
  • It is a Bearish Formation that forms at the end of an uptrend.
  • It is the exact opposite of the Bullish Hammer formation that forms on the bottom of a downtrend.
    • See the US Dollar Bullish Hammer from May 4th as an example of that set-up.
  • The market opens, trades quite a bit lower but rallies into the close to settle at or near the open price .
  • This is an early indication that sellers have entered the market.  Or at the very least that buying momentum is decreasing.
  • This candlestick gets more attention when the next day trading heads lower and closes below the Hanging Man’s lower wick.  This “next day” is known as the confirmation candle.
  • Look for the lower wick of the candle to be 2x the width of the body of the candle.
  • There should be little to no upper wick indicating that the market failed to trade higher at any point in the day.
  • It is important to note that this is NOT a sell signal, rather a heads-up to put this market on your radar to be ready.

Have a look:

hangingman

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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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