This is the Weekly Summary Email of the Trade Spotlight advisory service for the week ending on Friday, July 17, 2020.
Open Positions
Long the August 2020 Live Cattle on 98.400 (7/02/20). Marked settled at 103.275. Marked-to-market profit of $1,950.
Working Orders
Sell stop for the Live Cattle contract at 101.200, below the 50% Fibonacci Retracement, GTC. (Profit: $1,120 plus including commission and fees)
Sell limit for the Live Cattle contract at 108.000, a potential resistance level, GTC. (Reward: $3,840 minus including commission and fees)
Closed Positions
Stopped into the September 2020 Orange Juice contract at 120.950 and stopped out in the same trading session (7/19/20) on 125.65 for a loss $705.
Step into the “Spotlight”
Send questions specific to current or past trade recommendations, or any commodity related questions to tradespotlight@danielstrading.com.
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
