cocoa 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.
To gain access to these charts and all of the trade ideas in full the day they are released, sign up today!
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We recently pointed out the break below the 2420 level in Cocoa and looked for further downside stair-stepping price action.
If you got involved in this Formation Finder opportunity when it was released, great job!
*** With the market roughly 100 points ($1,000.00) lower depending on entry, it is time to reward yourself by moving your stops, taking profits or checking in on any put options 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 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!
*** If you need assistance with your entry and exit points on any of these Formation Finder emails, don’t hesitate to contact me or your Daniels Trading broker and we will be glad to help you ***
Check out the recent levels as the channel continues lower in Cocoa…
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