Long the October 2019 Platinum contract on 862.6 (8/23/19). Market settled at 860.0. Marked-to-market loss of $130.
Long the December 2019 Cocoa contract on 2216 (8/22/19). Market settled at 2228. Marked-to-market profit of $120.
Stop loss for the Platinum contract at 843.6, below the 200-day Moving Average, GTC. (Risk: $950, plus commission and fees)
Limit order for the Platinum contract at 889.6, below the top of the upper trend line, GTC. (Target: $1,350, not including commission and fees)
Stop loss for the Cocoa contract at 2146, below this year’s low (12/05/19), GTC. (Risk: $700, plus commission and fees)
Limit order for the Cocoa contract at 2356, the 200-day Moving Average, (Target: $1,400 not including commission and fees)
Step into the “Spotlight”
Send questions specific to current or past trade recommendations, or any commodity related questions to firstname.lastname@example.org. If your question is selected, you will receive a hard copy of the 2019 Daniels Trading pocket calendar.
Q: You recommended an option trade in November Corn but I cannot find that contract on my charts. –Sam
A: Corn options in November are a serial option. That is a shorter-term option based on the underlying futures contract in a forward month. The November option is based on the December futures contract. The November option expires on October 25, whereas the December contract expires on November 22. Use the Dec Corn chart to analyze price and technical indicators. If the November options were to be exercised or assigned, it would be so in the December futures contract.
Beyond the Spotlight
Watch your inbox Monday mornings for the Beyond the Spotlight video that will “spotlight” two to three markets that may setup as trading opportunities for the week ahead. You may also view the videos here: https://www.youtube.com/user/dtDeBartolo
Try Trade Spotlight Suite – for 3 Months
Trade Spotlight Suite – Trial - The Trade Spotlight advisory service consists of three segments covering futures, futures spreads, and commodity options. At the end of each trading day the commodity markets are analyzed by applying our methodology and recommendations are delivered to you based on our trading philosophy. Our technique is to track specific chart patterns for breakouts and apply key technical indicators to confirm the trade setup.
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.