gold futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from July 5th.
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I highlighted the pennant formation on Wednesday (6/30) as we were coiling up near 1320.0
The market has since broke out to the upside and I wanted to put the spotlight on 2 levels for those who got involved. Great job!
Time to move up your stop orders or check in on any call options that were purchased.
1362.6 is the spike high from the Friday trading session after the Brexit vote.
1400.0 would be a great target level as the next spot of resistance that traders may want to run this market to (or close to it). We have not seen this price trade since September of 2013 (we printed 1392.6 in March 2014).
3 contract sizes for all account sizes:
standard: (GGCM6) $1.00 move = $100.00
mini is1/3 size: (ZYGM6) $1.00 move = $33.00
micro is 1/10 size: (MGCM6) $1.00 move = $10.00
Check out the August Gold chart…
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