wheat 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 13th.
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Good Morning—
December KANSAS CITY WHEAT:’
(KEZ6)
Last week I put the spotlight on the Bullish Hammer set-up that took place. (refer back to the 7/5 post for more details)
Great job to everyone who has been participating!
It is time to move up your stops if you haven’t already OR check in on any call options that were purchased.
*** If you did not choose to get involved in this set-up, it is important to at least go back and check in on the pattern that was mentioned for a few different reasons… ***
- The set-ups that we see are not unique to any particular markets.
- A formation you see in one market can potentially present itself in another at some point down the road.
- It can be helpful to recognize price action when formations are happening so you can be better prepared the next time a certain set-up is noticed and pinpointed in whatever market it happens to pop up in next.
The point is though that if you notice a formation on a chart happening that you recognize or have seen before, I want you to be prepared to take action.
You may miss them from time to time and there will be trades where you are wrong. It’s ok, it happens to every trader…all the time. Welcome to the club! For your benefit as a trader and student of the markets…
*** it is important to go back and check in on patterns you see…
and how they turned out for a few different reasons ***
Check out the KC Wheat chart from last week, and this morning’s below…
Last week:
This morning:
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