gold futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Trade Idea portion from Tuesday, October 18th.
To gain access to these charts and all of the trade ideas in full the day they are released, sign up today!
Check out some of the most recent posts here:
How-To Guide: 10 Rules for Technical Futures Trading
I have been waiting for this market to break out of the congestion one way or the other to jump onboard for the past week. Today might be a sign that the upside is the direction it wants to go. So let’s do this!!! (and dip our toe in the water with a few micro contracts, and we can add on if the upside move gets going)
3 contract sizes for all account sizes:
- standard: (GGCZ6) $1.00 move = $100.00
- mini is 1/3 size: (ZYGZ6) $1.00 move = $33.00
- micro is 1/10 size: (MGCZ6) $1.00 move = $10.00
BUYING 2 micro contracts to enter at 1260.0 or better
…last traded 1260.0
Risk will be the 1240.0 level …($400.00 on 2 micros)
Objective will be the 1340.0 level …$1,600.00 on 2 micros
(short term obj will be the 1300.0 level …$800.00 on 2 micros)
initial margin is $594.00 per contract
Filled at 1260.0
Check out the recent congestion in the Gold contract…
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.