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September 23rd 2016 Newsletter

Using volume and range bar charts for day trading along with gold chart outlook

September 23rd, 2016 - Issue #846

In This Issue

1. Trading 102: Using tick/Volume charts and Oscillators for day trading
2. Hot Market Report: Gold Bulls Enjoying a Good Week, Helped Out By Central Banks
3. Economic Calendar

1. Using tick/Volume charts and Oscillators for day trading

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 about one technique one can add to their trading arsenal. This technique works better on choppy, two sided ways. 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 5 minutes 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, at times where there is lots of movement in the market, 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. If you like this Newsletter, Please share!

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

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2. Hot Market Report - Gold Bulls Enjoying a Good Week, Helped Out By Central Banks


From our friend Jim Wyckoff

Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge

gold Futures

The gold futures market bulls have had a good week. They have been helped by dovish-construed central bank meetings that occurred in Japan and the U.S. this week. There is still a stubborn downtrend line in place on the daily bar chart for December gold futures. Bulls will have to push prices above chart resistance at $1,360.00 to negate that downtrend line. Bulls have the overall near-term technical advantage as prices are not that far below this year's high.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
09/23
Fri
2:00 PM CDT - Cattle On Feed
2:00 PM CDT - Cold Storage
 
 
LT: Oct 2,5,10 Year Notes Options(CBT)
Oct Bonds Options(CBT)
Oct Canola Options(CBT)
Oct Wheat Options(CBT)
Oct Corn Options(CBT)
Oct Oats Options(CBT)
Oct Rough Rice Options(CBT)
Oct Soybeans,Soymeal,Soyoil Options(CBT)
09/26
Mon
9:00 AM CDT - New Home Sales(Aug)
 
 
 
FN: Oct Cotton(NYM)
 
 
 
09/27
Tue
8:00 AM CDT - Case-Shiller 20-City Index(Jul)
9:00 AM CDT - Consumer Confidence(Sep)
 
 
LT: Oct Copper Options(CMX)
Oct Gold Options(CMX)
Oct Silver Options(CMX)
Oct Natural Gas Options(NYM)
Oct RBOB & ULSD Options(NYM)
09/28
Wed
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Durable Orders(Aug)
7:30 AM CDT - Durable Orders Ex-Transportation(Aug)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
LT: Sep Copper(CMX)
Sep Gold(CMX)
Sep Silver(CMX)
Sep Platinum(NYM)
Sep Palladium(NYM)
Oct Natural Gas(NYM)
09/29
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - GDP-Third Estimate(Q2)
7:30 AM CDT - GDP Deflator-Third Estimate(Q2)
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Int Trade In Goods(Aug
9:00 AM CDT - Pending Home Sales(Aug)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Oct Natural Gas(NYM)
LT: Sep Feeder Cattle(CME)
Sep Feeder Cattle Options(CME)

09/30
Fri
7:30 AM CDT - Personal Income & Spending(Aug)
7:30 AM CDT - Core PCE Prices(Aug)
8:45 AM CDT - Chicago PMI(Sep)
9:00 AM CDT - Michigan Sentiment-Final(Sep)
11:00 AM CDT - Grain Stocks
11:00 AM CDT - Small Grains Summary
2:00 PM CDT - Quarterly Hogs & Pigs
FN: Oct Copper(CMX)
Oct Gold & Silver(CMX)
Oct Platinum & Palladium(NYM)
Oct Soymeal & Soyoil(CBT)
LT: Sep 2,5 Year Notes(CBT)
Sep Fed Funds(CME)
Oct RBOB & ULSD(NYM)
Oct Sugar-11(ICE)
Sep Fed Funds Options(CME)
Oct Lumber Options(CME)
10/03
Mon
9:00 AM CDT - Construction Spending(Aug)
9:00 AM CDT - ISM Index(Sep)
1:00 PM CDT - Auto & Truck Sales(Sep)
2:00 PM CDT - Fats & Oils
2:00 PM CDT - Grain Crushings
FN: Oct Sugar-11(ICE)
 
 
 
10/04
Tue

 
 
 
FN: Oct RBOB & ULSD(NYM)
LT: Sep Butter(CME)
Sep Milk(CME)
Sep Butter Options(CME)
Sep Milk Options(CME)
10/05
Wed
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(Sep)
7:30 AM CDT - Trade Balance(Aug)
9:00 AM CDT - Factory Orders(Aug)
9:00 AM CDT - ISM Services(Sep)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales

 
 
 
10/06
Thu
6:30 AM CDT - Challenger Job Cuts(Sep)
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
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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