crude oil future 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 September 1st
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Good Afternoon—
October CRUDE OIL:
This Formation Finder went out on Tuesday (8/30) as we were breaking down below the 46.50 level. Refer back to that email if needed.
…last traded 43.40
For those who liked this idea and got short the crude contract, reward yourself!
Ahead of the 3 day Holiday weekend…It may be a good time for you to lock-in a profitable trade and move your STOP orders (or check in on any put options purchased).
*** If you need any assistance with your entry and exit points on any of these Formation Finder emails, don’t hesitate to contact your Daniels Trading broker and we will be glad to help you ***
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 though is 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…from time to time. Welcome to the club!
Check out the week in Crude Oil trading…
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