The post Trade Spotlight: Futures (British Pound) appeared first on Daniels Trading.
This is a sample entry from Don DeBartolo’s email newsletter, Trade Spotlight: Futures, published on Wednesday, December 6, 2017.
There is a trade opportunity based on a Trend Line breakout in the British Pound currency market. The Stochastic indicator is showing a downturn in Momentum. The Trend Seeker is up, but with a weak ranking. The MACD indicator, a trend indicator, is set up to hook over bearish as well. There is seasonal tendency for this market to sell-off in December. There is also Brexit talk in the news again.
Sell the March 2018 British Pound futures contract at 1.3398 using a stop order, GTC.
Entry is a break of the 12/06/17 low. Initial Margin = $1,980 Maintenance Margin = $1,800
Stop loss: Place buy stop on 1.3528 above recent session highs, GTC (Initial Risk: $812.50)
Target: Place buy limit on 1.3098, a potential support level, GTC. ($1,875)
March 2018 British Pound Chart from Bar Chart
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