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October 6th, 2017 Newsletter

Crude Oil Futures Outlook using a weekly chart along with an educational piece on Using Range bar Charts for DayTrading alongside overbought and oversold indicators

October 6, 2017 - Issue #894

In This Issue

1. Trading 201: Using tick/Volume charts and Oscillators for Scalping
2. Hot Market report: Volatility Continues in Crude Oil Futures
3. Economic Calendar

Markets are open with NORMAL TRADING HOURS this Monday, even though it is a bank holiday, Columbus Day.

1. Trading 201: Using Tick/Volume charts and Oscillators for Scalping

Using tick charts and oscillators for day-trading (by Ilan Levy-Mayer VP of Cannon Trading and CTA at Levex.net )

I really don't think anyone has found a "perfect way" to day-trade.

Different techniques work well in different market environment.

In this week short educational feature, I will touch on one technique you can add to your trading arsenal. This technique works better on choppy, two sidedway and/or volatile markets. It does NOT work well when the market has a strong trend.

The chart below illustrates a few principals I like:

  1. It uses a tick chart rather than a time chart. I like tick charts ( range bar, volume charts, renko) better when day-trading shorter time frames for the simple reason it already includes a big factor in the market, VOLUME. If you are using a 5 minute chart for example, you may get signals simply because time "has passed" and certain indicators you are using adopt certain values. When using tick charts during periods where there are lots of movement, you won't have to wait until your time frame bar closes to get your signal, volume becomes a bigger more important part of your trading decision.
  2. The other part for this trading approach is to use overbought/ oversold indicators in an attempt to catch exhastion in selling or buying and catch the counter trend move. Sometimes that move will be minor, sometimes it will be a trend reversal and at other times just a little pause in a strong trend....no crystal balls here, just another tool to observe and consider in your trading. In the PDF you will see the same indicators, same market, same time frame BUT using different type of charts.....

To read article and view chart "Using tick/Volume charts and Oscillators for day trading", please fill out this form.

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2. Hot Market Report: Volatility Continues in Crude Oil Futures

By Sean Malone, Cannon Trading Broker

Click on image below to enlarge

crude oil futures; Wild ride in crude this week with 3% ranges Thursday and Friday. Looks like Thursdays rally was a head fake and the downtrend will continue. With reportable traders near record long last week will be interesting to see if they have trimmed that this week, or if they will come in and defend the 48.70 support area. There is not a lot of fundamental news right now, so the COT release today should set the tone for next week.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
10/06
Fri
7:30 AM CDT - Ave Workweek & Hourly Earnings(Sep)
7:30 AM CDT - Nonfarm Payrolls(Sep)
7:30 AM CDT - Unemployment Rate(Sep)
9:00 AM CDT - Wholesale Inventories(Aug)
2:00 PM CDT - Consumer Credit(Aug)
LT: Oct Live Cattle Options(CME)
Oct Canadian Dollar Options(CME)
Oct Currencies Options(CME)
Oct Mx Peso Options(CME)
Oct US Dollar Index Options(ICE)
Nov Cocoa Options(ICE)
10/09
Mon
COLUMBUS DAY
 
 
 
FN: Oct Live Cattle(CME)
LT: Oct Cotton(NYM)
Nov Sugar-16(ICE)
10/10
Tue

 
 
 
FN: Nov Sugar-16(ICE)
 
 
 
10/11
Wed
6:00 AM CDT - MBA Mortgage Purchase Index
3:30 PM CDT - API Energy Stocks
 
 

 
 
 
10/12
Thu
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core PPI & PPI(Sep)
9:30 AM CDT - EIA Natural Gas Report
10:00 AM CDT - EIA Petroleum Status Report
11:00 AM CDT - WASDE Report & Crop Production
2:00 PM CDT - Dairy Products Sales

 
 
 
10/13
Fri
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Core CPI & CPI(Sep)
7:30 AM CDT - Retail Sales(Sep)
7:30 AM CDT - Retail Sales Ex-Auto(Sep)
9:00 AM CDT - Business Inventories(Aug)
9:00 AM CDT - Mich Sentiment-Prel(Oct)
LT: Oct Hogs(CME)
Oct Soymeal,Soyoil(CBT)
Oct Eurodollar Options(CME)
Oct Hogs Options(CME)
Nov Coffee Options(ICE)
10/16
Mon
7:30 AM CDT - Empire Manufacturing(Oct)
11:00 AM CDT - NOPA Crush
 
 
LT: Oct Eurodollar(CME)
Oct Mx Peso(CME)
Nov Sugar-11 Options(ICE)
10/17
Tue
7:30 AM CDT - Export (ex-ag) & Import (ex-oil) Prices(Sep)
8:15 AM CDT - Capacity Util & Industrial Prod(Sep)
3:00 PM CDT - Net Long-Term TIC Flows(Oct)
3:30 PM CDT - API Energy Stocks
LT: Nov Crude Lt Options(NYM)
 
 
 
10/18
Wed
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Building Permits & Housing Starts(Sep)
9:30 AM CDT - EIA Petroleum Status Report
1:00 PM CDT - Fed's Beige Book(Oct)
2:00 PM CDT - Dairy Products Sales
LT: Nov Platinum Options(NYM)
Nov Palladium Options(NYM)

 
10/19
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Philadelphia Fed(Oct)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply

 
 
 
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

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