{"id":15758,"date":"2012-08-20T09:13:34","date_gmt":"2012-08-20T13:13:34","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=15758"},"modified":"2012-08-20T09:49:53","modified_gmt":"2012-08-20T13:49:53","slug":"highlighting-this-weeks-potential-breakouts","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/08\/highlighting-this-weeks-potential-breakouts\/","title":{"rendered":"Beyond the Spotlight: Highlighting This Week's Potential Breakouts"},"content":{"rendered":"<p><strong>September 2012 Euro Currency<\/strong><\/p>\n<p>The September 2012 Euro Currency contract lows are trading along a lower trend line, touching at 1.2051 (7\/24\/12), 1.2140 (8\/02\/12), and 1.2258 (8\/16\/12). A close below the lower trend line will trigger a sell entry. It appears the market will need to settle at 1.2280 or lower for confirmation of a breakout. The Trend Seeker (a GBE trading tool) confirms the market is in a down trend. The 50 day moving average (1.2387) is just above recent highs which could act as resistance and a natural level for stop losses. A short term target could be the 1.2051 low from 7\/24\/12. The stochastic indicator crossed over to sell signal and MACD is converging. These indicators may fall in line once the breakout occurs.<!--more--><\/p>\n<p><strong>November 2012 Soybeans<\/strong><\/p>\n<p>The November 2012 Soybean market has been range bound for about thirty days following the drought induced rally. The current range has established a Pennant Formation with touches to the upside at 1691\u20194 (7\/23\/12) and 1668\u20190 (8\/10\/12) and to the downside at 1536\u20190 (7\/25\/12) and 1555\u20192 (8\/08\/12). Ideally for a stronger formation there will be future touches on both the upper and lower trend lines. The Trend Seeker shows the market is still in an uptrend. That being said a close above the upper trend line would trigger a buy entry. It appears the market will need to settle at 1660\u20190 or higher for confirmation of a breakout. A 50% retracement of the Pennant Formation would be at 1613\u20194, which falls below recent lows, and an ideal stop loss placement. MACD, just like the range bound market, is undecided at this time.<\/p>\n<p><strong>November 2012 Canola<\/strong><\/p>\n<p>The November 2012 Canola contract highs are trading along a downward sloping trend line, touching at 645.7 (7\/20\/12), 633.0 (7\/03\/12), 620.0 (8\/10\/12), and 613.0 (8\/17\/12). Discounting the trading session on August 8, since the market broke below recent support only to close 3.4 points higher, we have a Flat Bottom Triangle formation. A close above the upper trend line will trigger a buy entry. It appears the market will need to settle at 611.5 or higher for confirmation of a breakout. The Trend Seeker confirms the market is in a uptrend. Stop losses could be placed below the support line just below the 600.0 price level. The upside target could be the twelve month contract high of 645.7 (7\/20\/12). The stochastic indicator crossed over to bullish.<\/p>\n<p><span style=\"color: red;\">STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A \u00e2\u20ac\u0153LIMIT MOVE\u00e2\u20ac\u009d, IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.<\/span><\/p>\n<p><strong>Subscribe to the GBE Trade Spotlight!<\/strong><\/p>\n<p>The \u201cGBE Trade Spotlight\u201d is a complimentary service based on the GBE trading methodology designed for you to leverage the knowledge, skills, and experience of Daniels Trading. Receive trade setups, trade recommendations, and trade management emails when you sign up for the <a href=\"http:\/\/www.danielstrading.com\/offers\/643\/134\/?refid=120h&amp;brokid=50&amp;utm_source=blog&amp;utm_medium=web&amp;utm_campaign=gbe-trade-spotlight&amp;utm_content=text-link\" target=\"_blank\">GBE Trade Spotlight<\/a> Advisory newsletter!<\/p>\n<p>By: Don DeBartolo<br \/>\n<a href=\"http:\/\/www.danielstrading.com\/offers\/643\/134\/?refid=120h&amp;brokid=50&amp;utm_source=blog&amp;utm_medium=web&amp;utm_campaign=gbe-trade-spotlight&amp;utm_content=text-link\" target=\"_blank\">danielstrading.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>September 2012 Euro Currency The September 2012 Euro Currency contract lows are trading along a lower trend line, touching at 1.2051 (7\/24\/12), 1.2140 (8\/02\/12), and 1.2258 (8\/16\/12). A close below the lower trend line will trigger a sell entry. It appears the market will need to settle at 1.2280 or lower for confirmation of a [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[106,4340,4341,7948],"class_list":["post-15758","post","type-post","status-publish","format-standard","hentry","category-general","tag-breakouts","tag-daniels-trading","tag-danielstrading-com","tag-guest-bloggers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Beyond the Spotlight: Highlighting This Week&#039;s Potential Breakouts - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2012\/08\/highlighting-this-weeks-potential-breakouts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beyond the Spotlight: Highlighting This Week&#039;s Potential Breakouts - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"September 2012 Euro Currency The September 2012 Euro Currency contract lows are trading along a lower trend line, touching at 1.2051 (7\/24\/12), 1.2140 (8\/02\/12), and 1.2258 (8\/16\/12). 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