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Trade Spotlight: Futures – Weekly Summary: KC Wheat, Canadian $

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This is the Weekly Summary Email of the Trade Spotlight advisory service for the week ending on Friday, October 30, 2020.

Open Positions

Short the December 2020 Kansas City Wheat contract from 558’6 (10/23/20). Market settled at 541’2. Marked-to-market profit of $875.

Sold the December 2020 Canadian Dollar contract at .75600 (10/28/20). Market settled at .75095. Marked-to-market gain of $505.

Working Orders

Buy stop for the Kansas City Wheat contract on 551’0, above Friday’s session high, GTC. (Profit: $387.50, plus including commission and fees)

Buy limit for the Kansas City Wheat contract on 500’0, near the 50% Fibonacci Retracement, GTC. (Reward: $2,937.50, minus commission and fees)

Buy stop for the Canadian Dollar contract on .75890, above the 20-Day and 50-Day Moving Averages, GTC. (Remaining Risk: $290, plus including commission and fees)

Buy limit for the Canadian Dollar contract on .73000, near a potential support level, GTC. (Reward: $2,600, minus commission and fees)

Closed Positions

None.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