Monday’s Futures Setups
The
Sept Swiss franc
(
SFU2 |
Quote |
Chart |
News |
PowerRating), Sept euro
(
ECU2 |
Quote |
Chart |
News |
PowerRating) and Sept
British pound
(
BPU2 |
Quote |
Chart |
News |
PowerRating) are trending toward newer highs. Keep an
eye on these currencies, because they could end up being possible
Turtle Soup Plus One Sell Setups. These currencies are on the
TradingMarkets.com Momentum 5 List.
Possible Turtle Soup Plus One Sell Setup
Contract |
Setup |
Direction |
Trigger |
| Sept cocoa ( CCU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 1550 |
| Sept 10-y note ( TYU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down | break below 105.50 |
| Sept British pound ( BPU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 1.46 |
Possible Turtle Soup Plus One
Buy Setup
Contract |
Setup |
Direction |
Trigger |
| Sept dollar ( DXU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP | break above 113.60 |
| July lean hogs ( LHN | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP | break above 50 |
| Sept Nasdaq 100 ( NDU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1200 |
| Sept S&P 500 ( SPU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1040 |
| Sept Dow Jones Indus ( DJU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 9810 |
Pullback From The High
Contract |
Setup |
Direction |
Trigger |
| July wheat ( WN2 | Quote | Chart | News | PowerRating) |
Pullback from the high | UP | 2.82 |
| July silver ( SIN2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP |
5.04 |
August gold ( GCQ2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP |
325.00 |
July frozen orange juice ( JON2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP | break above 91 |
July bean oil ( BON2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP | break above 18.30 |
After closing above its trigger,
2.82 in Thursday’s trade, July wheat
(
WN2 |
Quote |
Chart |
News |
PowerRating) had a strong day yesterday moving
up 12 cents to $2.95 1/2 a bushel. This was a nice move. Today Wheat pulled
back just one cent.
Please note that
while there are strong trends in some commodities, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading
with the main trend is always the highest probability trade.
Use stops on all your
trades.